Karnataka government has allocated 14 acres of land to set up the Nanotechnology Research Institute in Bangalore. The institute will be built under a Central government initiative with a total grant of Rs.1,000 crore provided by the Union ministry of science and technology.

Bangalore is recognized as the Knowledge capital of India and has emerged as the most preferred destination for frontier technologies. The new initiative of launching Bangalore Nano by Dept of IT, Biotechnology and Science & Technology, Government of Karnataka is the first step in fostering a business environment for the development of Nanoscience and the Nanotech industry.

For Karnataka, the sanction is Rs.100 crore from the Centre to set up the institute in Bangalore which is the third facility approved in the country after Kolkata and Mohali.
The institute will focus on advanced scientific research and the State government in consultation with Jawaharlal Nehru Centre for Advanced Scientific Research Centre and Indian Institute of Science will be starting construction before the end of year, stated Anand Vasant Asnotikar, Minister for Fisheries and Science & Technology, Government of Karnataka.

The institute will provide a boost to nanotechnology education and research, according to Prof. Ajay K. Sood, Professor, Department of Physics, Indian Institute of Science, Bangalore. In order to provide further impetus to the nanotechnology segment, the Karnataka department of information technology, biotechnology and science and technology hosted the first Bangalore Nano event last year.

The second year event is slated for December 12 to 14 with a conference, exhibition and partnering. The event is intended to be a place for the global nano-technology community to meet, collaborate and do business. The theme of Bangalore Nano 2008 is "Nanotechnology in India's future", going by the new role played by science which is now transforming Indian technology.