During the dedication of its new Nanoscale Material Science and Engineering Building, the U of A received a check for $375,000 from NanoMech, an innovative small business that uses nanotechnology to manufacture products with broad applications. The check is not a gift, but rather payment for intellectual property owned by the university and successfully commercialized by NanoMech.
“NanoMech is a vibrant example of what happens when research is nurtured and supported,” said Chancellor G. David Gearhart. “The commercialization efforts taking place within the Arkansas Research and Technology Park continue to play an important role in producing success stories like this one.
“Although the funds being transferred to the university are not directed to support this new building or to support our Institute for Nanoscience and Engineering, the check presentation today underscores the fact that nanotechnology is a growing research field and a growth industry in Arkansas. Its study and its commercialization are helping the University of Arkansas create jobs and opportunities in the state.”
NanoMech was founded in 2002 and is the commercial result of groundbreaking research by Ajay Malshe, Distinguished Professor of mechanical engineering and the Twenty-First Century Professor of Materials, Manufacturing and Integrated Systems.