What strategies can companies adopt to manage nanotechnology costs?
To manage nanotechnology costs, companies can adopt several strategies. Collaborating with academic institutions and government agencies can provide access to funding and shared resources. Companies can also focus on incremental innovations, which can be more cost-effective than pursuing radical breakthroughs. Adopting a modular approach to product design can facilitate easier integration of nanotechnology and reduce development costs. Additionally, investing in automation and advanced manufacturing techniques can enhance production efficiency and lower costs.
