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November 20, 2003 3:30 PM PST

Senate passes nanotech funding bill

The U.S. Senate this week passed the 21st Century Nanotech Research and Development Act, which authorizes $3.7 billion over four years for research and development into nanotechnology.

Nanotechnology has become the new space race. Japan, China and a number of European countries are investing in nanotechnology research in an effort to become an intellectual-property giant in the field.

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