NYTimes writes about how Israel is working to get a leadership position in nanotechnology:
In the 1990’s, Israel established itself as a global center for technology, using an influx of Russian immigrant engineers and harnessing homegrown military technology to create thousands of software and Internet start-ups. The boom led to the creation of more than 100 Israeli technology companies that are traded on foreign stock exchanges, including 80 traded on Nasdaq.
Now Shimon Peres, a winner of the Nobel Peace Prize and a former prime minister, is trying to ensure Israel’s place in nanotechnology, the emerging science of matter measured in one-billionth of a meter.
With that goal in mind, Mr. Peres, who turned 80 in September, and his son, Chemi Peres, a venture capitalist, are aiming to raise some $300 million from American Jewish donors to ensure that Israel can become a global nanotechnology developer. Right now the Israeli government has about $150 million invested in nanotechnology research, according to Einat Wilf, managing director of the Israeli Nanotechnology Trust.
India too needs to look at specific verticals and build R&D hubs (with an additional D for Delivery). While the services boom is good, we need to look beyond to core technology innovation also.