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Jamison Powered By Docstoc
      CASH IN
            Douglas W. Jamison
        Harris & Harris Group, Inc.
    One Rockefeller Center, Suite 1430
           New York, NY 10020
 (212) 332-3600

1.) Present a framework in which to think about
     nanomanufacturing investments.
2.) Comment on where some of the established firms
     are focusing.
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.
               SURVEY SUMMARY:
• Approximately 115 “Tool Companies” in the database at
  this point.
     • 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.   Manufactures wafer fabrication equipment with
                         ex.html                                     CVD and PVD steps. Inspection and metrology equipment.

ASM Lithography        Lithography techniques for Silicon integrated circuits. Research electron/ion and extreme
Holding NV               m/            UV lithography with resolutions below 100nm.

Canon              X-ray lithographic technology with resolution of 130nm by 2003 and 100nm by 2005.

FEI Corp.           Manufactures products based on focused charged particle beam technology including
                         list.html                                   TEMs, SEMs and focused ion beam systems.

HP                                   Research into soft lithography. HP’s Quantum Science research group is working on a
                                                                     molecular electronics program for defect tolerant architectures.

Hitachi Scientific                 Supplies SEMs, focused ion beam milling systems, TEMs, and electron beam lithography
Instruments                                                          systems.

JEOL                      Manufacture a variety of material analysis instruments including SEMs and TEMs.
JMAR Technologies            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
                        identify defects.

LEO Electron                   Manufacture SEMs and TEMs. Zeiss subsidiary.

NEC              R&D projects include electron beam nanolithography and atom holography.

Nikon             Electron projection lithography and AFM applications.

Novellus Systems Inc.   Manufactures automated wafer fabrication systems for thin film deposition. Provides
                        tup.asp                                  CVD, PVD, photoresist and residual removal.

Olympus          Produce cantilever tips for scanning tip microscopes (STMs) and near field optical
                        al_global.htm                            microscopes.
Rudolph Technologies    Manufactures process control metrology systems including a metrology line for
Inc.                     dex.html                                  opaque and transparent films.

Seiko Instruments   Manufactures analytical equipment including scanning probe microscopes, focused
                                                                   ion beam machines and SEMs.

Ultratech Stepper Inc.    Manufactures photolithography equipment.

Veeco Instruments Inc.      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               Manufacturer of optical microscopes, SPMs and SEMs. LEO is a subsidiary.
COMPANY:          LOCATIO          WEB SITE:               MARKET       TECHNOLOGY:                                              INVESTORS:
                  N:                                        SPACE:

MicroMagnetic     Fall River,      http://www.microma     Analytical    Employs magnetic fields generated by a current to
s                 MA                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
                                         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   Equipment
Image             Denmark          http://www.imagem      Analytical    Produce software for Scanning probe microscope data
Metrology                                Equipment     and analysis.

Integrated        Sunnyvale,    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
                              Equipment     emphasis on advanced optical systems.
Micro Materials   Burr Ridge, IL   http://www.microma     Analytical    Manufacturer of mechanical testing instruments at
                            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             Equipment     analysis.

Ion TOF           Germany          http://www.ion-        Analytical    Manufacture secondary ion mass spectrometry
                                        Equipment.    systems.
Positron        Boise, ID       http://www.positron    Metrology and   Non-destructive technology for identifying nanoscale
Systems Inc.                     Inspection      defects called Photon Induced Positron Annihilation
                                                       Tool            System.

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    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                   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,   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        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                                 Self-          for building blocks in nanoscale self-assembly.

Nanolayers      Israel          http://www.nanolaye   Molecular      Developed a proprietary organic thin-film technology       Millenium Materials
                          Self-          for the enhancement of microelectronic components.         Technology Fund

Nanosys Inc.    Palo Alto, CA     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,    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                  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
                                                                     topographical features.
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,
                         Generation    automatic test equipment and electron beam
                                index.shtml            Lithography   lithography systems for ICs.

AMO GmbH        Germany    Next          Develop interference lithography and nanoimprint
                                mo/welcome_en.htm      Generation    technology
                                l                      Lithography

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.
                             o.htm                   Lithography

Raith GmbH     Germany    Next            Manufacturer of electron beam lithography systems.
                             intro.html              generation

JC Nability                                          Next            Manufacture an interface for performing e beam
Lithography                                          Generation      lithography with SEMs and STMs.
Systems                                              Lithography –
                                                     E beam

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.
Inc.                                                 E-Beam

Mapper         Delft         http://www.mapperli     Next            Technology based on a combination of e-beam               July, 2001 $2.2 million
Lithography    University          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
                                                                     semiconductor lithography.

Molecular                                            Robotic         Researching conversion of the atomic force
Robotics                                             manipulation    microscope into a production robot with atomic
                                                                     manipulation capabilities.

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
                                                                     spin-on process.
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                        Manipulation   researchers to add 3-D animation tools to scanning
Inc.                                                                probe microscope images.

National        worldwide    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    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,   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-
                                 Manipulation   D imaging at nanoscale.

Arryx           Chicago, IL   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                Manipulation   materials.

Atomic Force      Germany   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                          Manipulation

Danish Micro      Denmark          http://www.dme-        Imaging and    Manufactures AFMs and near field scanning optical
Engineering                              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                    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.
research                                                  Manipulation

Infinitesima      Bristol, UK                             Imaging and    Develops systems for improving scanning probe
                                                          Manipulation   microscope performance in applications of biology
                                                          Bio            and polymer science.
JPK             Berlin,     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             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                        Manipulation

K-Tek           Portland, OR   http://www.ktekintl.   Imaging and    Manufacturer of AFM cantilevers and gratings.
International                  com/                   Manipulation
Inc.                                                  Accessories

Mikromasch                     http://www.mikrom      Imaging and    Manufacturer of Scanning probe microscope tips,
                                   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,    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              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                         Manipulation   as TEM technology for 3-D manipulation of
                                                                     nanoscale objects.

Nanofilm        Westlake       http://www.nanofil     Imaging and    Manufacture instrument accessories for analysis and
                Village, CA                 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
                                       materials with nanoscale resolution.
Nanomechanics    Worcester,     http://www.nanome     Imaging and    Developer of algorithms for the simulation of AFM
LLC              MA             Manipulation   behavior.

Nanometrics      worldwide      http://www.nanomet    Imaging and    Produce equipment for the mapping of thin film
                                   Manipulation   properties for applications in semiconductors and flat
                                                                     panel displays.

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.                         Manipulation   microscopy.

Nanosensors      Switzerland    http://www.nanosen    Imaging and    Manufacturer of scanning probe microscope
                                   Manipulation   cantilevers and calibration tools.

Nanosurf         Switzerland    http://www.nanosurf   Imaging and    Developer of scanning probe microscope systems
                                .com/                 Manipulation

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
                                  Manipulation   diamond like amorphous carbon.

Nanowave         Santa Clara,   http://www.nanowa     Imaging and    Produce positioning systems based on scanning probe
                 CA                  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
                                      Manipulation   with LEO.

Pacific            Santa Clara,   http://www.pacificna   Imaging and    High performance inexpensive AFM with intuitive
Nanotechnolog      CA               Manipulation   imaging capabilities.
y Inc.

Physical           Germany    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)                                  Manipulation   devices.

PSIA               Korea   Imaging and    Manufacture SPMs and cantilevers.
                                  r/                     Manipulation

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                            Manipulation   molecular imaging.

Surface            Germany        http://www.sis-        Imaging and    Manufacturer of scanning probe microscope
Imaging                               Manipulation   peripherals.
Triple-O           Germany        http://www.triple-     Imaging and    Manufacturer of SPM.
Microscopy                         Manipulation

Visitec            Germany        http://www.visitec-    Imaging and    Very large chamber SEM producer.

• SPM manipulation devices for biological
  applications – 5-6 companies and none of the
  “incumbents” yet.
     • 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
• 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
  Group, Inc.

• 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.

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