WHO’S GETTING THE
Douglas W. Jamison
Harris & Harris Group, Inc.
One Rockefeller Center, Suite 1430
New York, NY 10020
(212) 332-3600 doug@TinyTechVC.com
1.) Present a framework in which to think about
2.) Comment on where some of the established firms
3.) Comment on the survey of nanomanufacturing
4.) Revisit the framework of investment
Why is presenting a survey of firms important?
• First, it provides a visual picture to help an investor or
start-up map the landscape and develop a strategy.
• Second, it allows you to guard against capital market
• Third, it provide investors and start-ups with a set of
companies to compare against when deciding if their
start-up has the right type of technology to be
successful in its specific industry dynamic.
• Approximately 115 “Tool Companies” in the database at
• Approximately 20+ are considered “incumbents.”
• Approximately 90 + are start-ups, small firms, or firms with a new
division focused on nanomanufacturing.
• 14+ companies focused on SEMs and TEMs.
• 34+ companies focused on SPMs.
• An additional 12+ firms supplying accessories for SPMs.
• 18+ Lithography companies
• 5+ in NIL; 5+ in E-Beam; 2+ in EUV; 1 in X-ray lithography
• 6+ companies focusing on self-assembling
COMPANY: WEB SITE: TECHNOLOGY:
Applied Materials Inc. http://www.appliedmaterials.com/about/ind Manufactures wafer fabrication equipment with
ex.html CVD and PVD steps. Inspection and metrology equipment.
ASM Lithography http://www.asml.com/NASApp/asmldotco Lithography techniques for Silicon integrated circuits. Research electron/ion and extreme
Holding NV m/show.do?GXHC_JSESSIONID=383da7 UV lithography with resolutions below 100nm.
Canon http://www.canon.com/technology/index.ht X-ray lithographic technology with resolution of 130nm by 2003 and 100nm by 2005.
FEI Corp. http://www.feicompany.com/eng/products/ Manufactures products based on focused charged particle beam technology including
list.html TEMs, SEMs and focused ion beam systems.
HP http://www.hpl.hp.com/ Research into soft lithography. HP’s Quantum Science research group is working on a
molecular electronics program for defect tolerant architectures.
Hitachi Scientific http://www.hii-hitachi.com/ Supplies SEMs, focused ion beam milling systems, TEMs, and electron beam lithography
JEOL http://www.jeol.com/products.html Manufacture a variety of material analysis instruments including SEMs and TEMs.
JMAR Technologies http://www.jmar.com/prod.html Produce programmable, high resolution, AFM- based integrated inspection systems
Inc. for semiconductors, biochips, and hard disks. Laser and X-ray source and the
positioning systems are proprietary to JMAR.
KLA-Tencor Corp. http://www.kla- Manufactures yield management solutions, process monitoring systems, and tools to
tencor.com/products/browse.html identify defects.
LEO Electron http://www.leo-em.co.uk/ Manufacture SEMs and TEMs. Zeiss subsidiary.
NEC http://www.nec.com/global/rd/index.htm R&D projects include electron beam nanolithography and atom holography.
Nikon http://www.nikonusa.com/usa_category/ Electron projection lithography and AFM applications.
Novellus Systems Inc. http://www.novellus.com/products/prose Manufactures automated wafer fabrication systems for thin film deposition. Provides
tup.asp CVD, PVD, photoresist and residual removal.
Olympus http://www.olympus.com/global/industri Produce cantilever tips for scanning tip microscopes (STMs) and near field optical
Rudolph Technologies http://www.rudolphtech.com/products/in Manufactures process control metrology systems including a metrology line for
Inc. dex.html opaque and transparent films.
Seiko Instruments http://www.sii.co.jp/info/eg/index.html Manufactures analytical equipment including scanning probe microscopes, focused
ion beam machines and SEMs.
Ultratech Stepper Inc. http://www.ultratech.com/products/inde Manufactures photolithography equipment.
Veeco Instruments Inc. http://www.veeco.com/html/product_by Manufactures process equipment and metrology tools including etch and deposition
Digital Instruments market.asp systems and surface measurement systems.
DI manufactures scanning probe microscopes, AFMs, near field scanning optical
microscopes, and related peripherals.
Zeiss http://www.zeiss.com/us/home.nsf/Cont Manufacturer of optical microscopes, SPMs and SEMs. LEO is a subsidiary.
“THE UP AND COMING?”
COMPANY: LOCATIO WEB SITE: MARKET TECHNOLOGY: INVESTORS:
MicroMagnetic Fall River, http://www.microma Analytical Employs magnetic fields generated by a current to
s MA gnetics.com/ Equipment determine the amount of current in a circuit on an IC.
Sensitivity approaching SQUID and can resolve
features smaller than 50 nm.
Nano-Or Israel http://www.nano- Analytical Non-contact, non-destructive 3-D measurement First round investment funds
or.com/ Equipment system. Company has incorporated interferometer from Jerusalem Global
metrology performance into a white-light microscope. Ventures, STI Ventures,
Dellet VC, and private
Burleigh Analytical Manufacturer of instruments for testing, measurement
Equipment and automation in the photonics market. Produces
positioning systems with nanometer precision.
Cameca Analytical Develops instrumentation for surface and interface
Equipment analysis and microprobes.
Evotec UK and http://www.evotecoa Analytical Development of single molecule spectroscopy
Biosystems Germany i.com/servlet/page?_ Equipment
Image Denmark http://www.imagem Analytical Produce software for Scanning probe microscope data
Metrology et.com/ Equipment and analysis.
Integrated Sunnyvale, http://intnano.com/ Analytical Developed a process for the manufacture of a carbon
Nanosystems, CA Equipment nanotube probe for use in semiconducting metrology
Inc. Bio and the biomedical market
Jasco Corp. Japan http://www.nni.nikk Analytical Manufacturer of analytical instrumentation with an
ei.co.jp/FR/AWG/re Equipment emphasis on advanced optical systems.
Micro Materials Burr Ridge, IL http://www.microma Analytical Manufacturer of mechanical testing instruments at
terialsresearch.com/ Equipment nano and micro scale, especially nanoindentation,
scratch and impact testing.
Photometrics Huntington http://www.photome Analytical Laboratory dedicated to solving production and failure
Inc. Beach, CA trics.net/ Equipment analysis.
Ion TOF Germany http://www.ion- Analytical Manufacture secondary ion mass spectrometry
tof.com/ Equipment. systems.
Positron Boise, ID http://www.positron Metrology and Non-destructive technology for identifying nanoscale
Systems Inc. systems.com/ Inspection defects called Photon Induced Positron Annihilation
Rave LLC Delray Beach, http://www.ravellc.c Metrology and Developing a scanning probe microscope tool for
FL om/careers.html Inspection mask and semiconductor repair.
Nano World Metrology/ Electron beam nanolithography used to inspect and
Technologies Inspection repair semiconductor photomasks.
Nanometrology New York Metrology/ CD-SEM calibration and line-edge roughness
Inspection metrology tool to help technicians calibrate multiple
Tool CD-SEMs for increased yields.
NLine Corp. Austin, TX http://www.nline.co Metrology/ Digital holography to peer into narrow and deep $7.4 million second round
m/ Inspection spaces such as contacts and trench capacitors on included Advanced Micro
Tool semiconductor wafers. Tool detects defects that are Devices, Hat Creek
smaller than the wavelength of deep ultraviolet light. Partners, Intel Capital,
Targeted at 90 nm process technology. Sensor Technology
Development Fund, SG
Cowen Venture Partners,
TAT Capital Partners Ltd.,
and Thomas Weisel
Partners. The $7.4 million
raised brings the total equity
investment in nLine to
Therma-Wave SanFrancisco, http://www.thermaw Metrology/ Develop a real time, critical dimension system to Established since 1982
CA ave.com/ Inspection scatterometrically measure 130 nm photoresist
Tool features for polysilicon gate and shallow trench
Hysitron Minneapolis, http://www.hysitron. Metrology/ Manufactures nanomechanical testing instruments
MN com/ Inspection especially tailored to measure hardness, elastic
Tool modulus, friction, wear resistance, fatigue,
nanoscratch and indentation.
Zyvex Richardson, http://www.zyvex.co Molecular Assembly-based systems approach to integrating
Corporation TX m/ Self- macro, micro and nanodevices, with a strong
Assembly emphasis on self-assembly. Released S100
Nanomanipulator System for positioning and testing
tools for nanotech research and development
Molecular Hilton Head, http://www.molecul Molecular R&D company working on commercializing $7.65 million originally
Electronics SC arelectronics.com/ Self- nanoelectronics with their main focus on self- from Angel investors.
Corp. Assembly assembly
NanoFrames Boston, MA http://www.nanofra Molecular Perform research on the use of rod-like tails of viruses
LLC mes.com/ Self- for building blocks in nanoscale self-assembly.
Nanolayers Israel http://www.nanolaye Molecular Developed a proprietary organic thin-film technology Millenium Materials
rs.com/about.shtml Self- for the enhancement of microelectronic components. Technology Fund
Nanosys Inc. Palo Alto, CA www.nanosysinc.co Molecular Synthesize 0 and 1 dimensional nanostructures for ARCH Ventures, CW
m Self- applications in photovoltaics, macroelectronics, and Group, Polaris ventures,
Assembly chemical sensing. Venrock Associates, etc.
Mound laser Miamisburg, http://www.mlpc.co Micromachini Develop applications for laser micromachining and
and Photonics OH m/ ng fabrication.
Molecular Austin, TX http://www.molecula Nanoimprint Step & Flash Imprint Lithography. Imprio 100 has a $12 million in VC funding
Imprints rimprints.com/about Lithography price tag of $2 million. from Alloy Ventures, Asset
mi.html Management, DFJ,
Huntington Ventures, KT
Venture Group, Lam
research and Motorola
Nanonex Corp. Princeton, NJ http://www.nanonex. Nanoimprint Shipping nanoimprint lithography tools ranging in undisclosed
com/ Lithography price from $300-700K.
Obducat AB Malmo, http://www.obducat. Nanoimprint Develop and supply technologies for the production of Public company
Sweden com/sida_2.asp Lithography advanced micro and nano structures for research and
manufacturing including electron beam writers,
electron microscopes and nanolithography. Sold 5
pilot production NIL machines with 20-25 to be
delivered to customers in 2003.
EV Group Austria http://www.evgroup. Nanoimprint A semiconductor and MEMS production equipment
com/products/hotem Lithography maker. EV Group has three nanoimprint lithography
bossing.htm systems, the hot embossing device that works at high
temperatures and precise pressure, a device that
solidifies the polymer material with UV light and a
microcontacting printing process that uses a flexible
stamp to deposit patterns on surfaces with existing
LumArray Cambridge, http://www.lumarray Next Maskless zone plate array lithography controlled by
MA .com/index.htm Generation Microsystems. Technology is extendable to 10-20 nm.
Advantest Japan http://www.advantes Next Manufacture electronic measuring instruments,
t.co.jp/products/en- Generation automatic test equipment and electron beam
index.shtml Lithography lithography systems for ICs.
AMO GmbH Germany http://www.amo.de/a Next Develop interference lithography and nanoimprint
mo/welcome_en.htm Generation technology
NanoInk Chicago, IL http://www.nanoink. Next AFM based dip-pen lithography* Raised approximately $6
net/home.html generation million Galway partners and
Lithography Lorie Investment Fund
Quantiscript Canada http://www.quantisc Next Developer of electron beam lithography.
Raith GmbH Germany http://www.raith.de/ Next Manufacturer of electron beam lithography systems.
JC Nability Next Manufacture an interface for performing e beam
Lithography Generation lithography with SEMs and STMs.
Systems Lithography –
Applied Next Produces metal carbide tips that emit a thin beam of
Physics Generation electrons with potential for use in electron beam
Technologies Lithography – lithography.
Mapper Delft http://www.mapperli Next Technology based on a combination of e-beam July, 2001 $2.2 million
Lithography University thography.com/ generation writing and conventional optical imaging that enables from Residex Venture
Lithography - high resolution and high-speed lithography without a Capital Network and Delft
Electron conventional photomask. Designed pattern is imaged University. In August 2002
Beam on a converter plate rather than on the wafer directly. KT Ventures also invested.
Lithography Developing a wafer stepper for 22-45 nm
Molecular Robotic Researching conversion of the atomic force
Robotics manipulation microscope into a production robot with atomic
Chemat Northridge, http://www.chemat. Self- Manufacture and sell a wide range of precursor
Technology CA com/ Assembly via materials for sol-gel. They have developed a new
sol-gel form of anti-reflective coating using a sol-gel based
Imago Madison, WI http://www.imago.c Imaging and Developing proprietary Nanolytical™ equipment to $7 million in VC funding
Scientific om/# Manipulation meet the characterization needs of the nanotechnology from DFJ, Infineon
Instruments revolution. Imago’s premier product, the LEAP™ Ventures, Draper Triangle
Corp. microscope, provides unsurpassed three-dimensional Ventures, Stanford
materials analysis at the nanoscale. Management Company
Nanoscience Phoenix, AZ http://www.nanoscie Imaging and Scanning probe image processor product permitting
Instruments nce.com/ Manipulation researchers to add 3-D animation tools to scanning
Inc. probe microscope images.
National worldwide http://www.ni.com/ Imaging and Manufacture a piezo tuning wizard for motion control.
Instruments Manipulation Permits developers to easily tune and control piezo-
Bio based motors for high-precision applications such as
applications wafer alignment and biotech microarray handling.
Nion Co. Kirkland, WA http://www.nion.co Imaging and Specializes in precision optical instrumentation such Established for some time
m/ Manipulation as aberration correctors, imaging filters, slow scan
CCD cameras, parallel electron energy loss
spectroscopy and STMs.
3rdtech Inc. Chapel Hill, http://www.3rdtech. Imaging and Produces the NanoManipulator, a set of virtual reality
NC com/ Manipulation interface tools for TM scanning probe microscopes.
Accurion Menlo Park, http://www.accurion Imaging and Produces AFMs, SPM and some optical measurement
CA .com/ Manipulation instruments
Adept Livermore, http://www.adept.co Imaging and Producer of nanopositioning equipment
Technology CA m/main/index.html Manipulation
Angstrovision California http://www.angstrov Imaging and Exploiting interferometry to allow rapid-frame-rate 3-
ision.com/ Manipulation D imaging at nanoscale.
Arryx Chicago, IL http://www.arryx.co Imaging and Develops and commercializes a technology for the Raised $7.2 million from
m/home.html Manipulation manipulation of nano-objects with focused beams of DFJ, Fahnestock Fund and
Bio laser light. ARCH Development Fund
Asylum Santa Barbara, http://www.asylumr Imaging and Seller of scanning probe microscopes and related
research CA esearch.com/ Manipulation materials.
Atomic Force Germany http://www.af-fe.de/ Imaging and Producer of microscope accessories such as
F&E GmbH Manipulation cantilevers, SEM accessories, surface profile
measuring instruments and layer thickness measuring
Attocube Germany http://www.attocube. Imaging and Develops nanopositioning actuators
Systems com/ Manipulation
Atos Imaging and Surface topography equipment seller – AFM, near
Manipulation field scanning optical microscopes, SPM and
BioForce www.bioforcenano.c Imaging and Developer of AFMs for biological applications.
Nanosciences om Manipulation
Camscan Great Britain http://www.camscan Imaging and Manufacturer of SEMs.
Electron Optics .co.uk/ Manipulation
Danish Micro Denmark http://www.dme- Imaging and Manufactures AFMs and near field scanning optical
Engineering spm.dk/ Manipulation microscopes.
Focus GmbH Germany http://www.focus- Imaging and Manufacturer of instruments for electron microscopy.
Fries Research Germany http://www.frt- Imaging and Develops processes and tools for the production and
& Technology gmbh.com/home/ho Manipulation modification of nanostructures with ion beams.
General Berkeley CA http://www.gennano. Imaging and Produces imaging and operating software for AFMs
Nanotechnolog com/ Manipulation and optical microscopes.
Independent Imaging and Scanning probe microscope manufacturer.
Infinitesima Bristol, UK Imaging and Develops systems for improving scanning probe
Manipulation microscope performance in applications of biology
Bio and polymer science.
JPK Berlin, http://www.jpk.com Imaging and Maker of dual function microscopes, designed for
Instruments Germany /index2.htm Manipulation use in biological fields.
Kelvin Glasgow, http://www.elec.gla. Imaging and Semiconductor fabrication and processing for
Nanotechnolog Scotland ac.uk/knt/ Manipulation electronics and biology, including e beam writing
y Bio and molecular beam epitaxy.
Kleindiek Germany http://www.nanotec Imaging and Manufacturer of nanopositioning equipment.
Nanotechnik hnik.com/ Manipulation
K-Tek Portland, OR http://www.ktekintl. Imaging and Manufacturer of AFM cantilevers and gratings.
International com/ Manipulation
Mikromasch http://www.mikrom Imaging and Manufacturer of Scanning probe microscope tips,
asch.com/ Manipulation cantilevers and calibrating samples.
Minus K Inglewood, http://www.minusk. Imaging and Manufacture vibration isolation systems for scanning
CA com/ Manipulation probe microscopes.
Molecular Moscow, http://www.ntmdt.ru Imaging and Produce scanning probe microscopes and related
Devices & Russia / Manipulation accessories for surface characterization in gas, air
Tools for and liquid environments.
Molecular Tempe, AZ http://www.molec.c Imaging and Design and produce scanning tunneling microscopes,
Imaging om/ Manipulation AFMs, peripherals and scanning probes.
Nanodevices Santa http://www.nanodev Imaging and Manufactures AFM cantilevers.
Inc. Barbara, CA ices.com/ Manipulation
NanoFab ColumbiaMD http://www.nanofab. Imaging and Manufacturer of high voltage focused ion beam
com/ Manipulation devices
Nanofactory Sweden http://www.nanofact Imaging and Manufacture an instrument that features STM as well
Instruments ory.com/ Manipulation as TEM technology for 3-D manipulation of
Nanofilm Westlake http://www.nanofil Imaging and Manufacture instrument accessories for analysis and
Village, CA m.com/ Manipulation microscopy of surfaces.
Nanomagnetics UK http://www.nanoma Imaging and Developing scanning Hall probe microscopes for
Instruments gnetics- Manipulation quantitative and non-invasive imaging of magnetic
inst.com/products.ht materials with nanoscale resolution.
Nanomechanics Worcester, http://www.nanome Imaging and Developer of algorithms for the simulation of AFM
LLC MA chanics.com/ Manipulation behavior.
Nanometrics worldwide http://www.nanomet Imaging and Produce equipment for the mapping of thin film
rics.com/ Manipulation properties for applications in semiconductors and flat
Nanomotion Israel http://www.avem.or Imaging and Developing nanopositioning systems.
Ltd. g/MemDirF/Nanom Manipulation
Nanonics Israel http://www.nanonics Imaging and Commercializing advancements in near field optical
Imaging Ltd. .co.il/ Manipulation microscopy.
Nanosensors Switzerland http://www.nanosen Imaging and Manufacturer of scanning probe microscope
sors.com/ Manipulation cantilevers and calibration tools.
Nanosurf Switzerland http://www.nanosurf Imaging and Developer of scanning probe microscope systems
Nanotec Spain http://www.nanotec. Imaging and Manufacturer of scanning probe microscopes
Electronics SL es/staff.htm Manipulation
Nanotools Germany http://www.nano- Imaging and Manufacturer of silicon AFM tips coated with
tools.com/ Manipulation diamond like amorphous carbon.
Nanowave Santa Clara, http://www.nanowa Imaging and Produce positioning systems based on scanning probe
CA ve.com/ Manipulation microscope technology.
Neolim Ltd. Imaging and Develop nanopositioning equipment
Norsam Santa Fe, NM http://www.norsam. Imaging and Commercialize sub 20 nm resolution ion beam
com/about.htm Manipulation technology.
Omicron Germany http://www.omicron- Imaging and Manufacturer of scanning tunneling microscopes.
Orsay Physics France http://www.orsayphy Imaging and Producer of focused ion beam columns in partnership
sics.com/ Manipulation with LEO.
Pacific Santa Clara, http://www.pacificna Imaging and High performance inexpensive AFM with intuitive
Nanotechnolog CA notech.com/ Manipulation imaging capabilities.
Physical Germany http://www.phi.com/ Imaging and Manufacture a variety of surface science instruments.
Electronics Inc. Manipulation
Piezomax(now Madison, WI http://www.piezoma Imaging and Manufacture scanning probe tips and nanopositioning
nPoint) x.com/ Manipulation devices.
PSIA Korea http://www.psia.co.k Imaging and Manufacture SPMs and cantilevers.
Queensgate Imaging and Manufacturer of nanopositioning systems.
Quesant worldwide http://www.quesant. Imaging and Manufacturer of scanning probe microscopes.
Instruments com/ Manipulation
RHK Troy, MI http://www.rhk- Imaging and Manufacturer of UHV AFM/STM systems for
Technology tech.com/ Manipulation molecular imaging.
Surface Germany http://www.sis- Imaging and Manufacturer of scanning probe microscope
Imaging gmbh.com/ Manipulation peripherals.
Triple-O Germany http://www.triple- Imaging and Manufacturer of SPM.
Microscopy o.de/Triple- Manipulation
Visitec Germany http://www.visitec- Imaging and Very large chamber SEM producer.
WHERE SOME MAY FIND
• SPM manipulation devices for biological
applications – 5-6 companies and none of the
• BioForce Nanosciences, National Instruments, Kelvin
• Companies with a very specific focus and
expertise with customers lined up.
• NanoFab in Maryland focusing on high voltage focused
ion beam devices.
• Pacific Nanotechnologies, Inc. – low priced SPM niche.
• Imago Scientific Instruments – 3-D imaging capabilities
REVISITING THE FRAMEWORK FOR
• Source of a Visual Picture for Strategy Purposes:
– Found some nanoimprint lithography techniques that may be disruptive.
Found a lot of “tool” companies trying to compete against the incumbents
with sustaining technologies.
– Most technologies are still “top-down” manufacturing processes, that
don’t fully take advantage of the opportunities that will some day be
enabled at the nanoscale. A bit early for “bottom-up” promises.
– Great companies are selling applications (Nanosys, NanoGram Devices)
• The excitement for nanotech tools may be leading us to
capital market myopia.
• Good due diligence is critical as this field has matured
quickly. There is significant intellectual property and
plenty of companies that are already in business.
• The opportunities for specialized firms in
nanomanufacturing – what they will need.
• The opportunities for a firm such as Harris & Harris
• Strategies and rules are often designed to then be
broken or proven incorrect. However, then at least
one has been conscious of the process and knows
what one is getting into.