It's NE Ohio and the Rest of the World: ASM to Co-Sponsor 2nd Annual International Nanotechnology Business Idea Contest and a Total of $150,000 in Prizes

CLEVELAND, Oct. 19, 2005 -- Where will the next big business idea in the field of nanotechnology come from -- somewhere else in the world, or right here in Northeast Ohio?

We're about to find out at NanoWeek 2005, as ASM International, The Materials Information Society co-sponsors the 2nd International Business Idea Competition. A Northeast Ohio competition will also be held. Both competitions offer $75,000 in prize money, for a total of $150,000.

The competitions are sponsored by TiME (The Institute for Management and Engineering), Case Western Reserve University, the Keithley Foundation, ASM International and the Nano-Network.

"It's Northeast Ohio and the rest of the world," said Stan Theobald, ASM managing director. "As an international organization ourselves, we're proud to be co-sponsoring the worldwide competition. And, as a company headquartered near Cleveland, we're looking forward to seeing how we stack up locally against that international standard."

"On the international side of the competition, we are interested in business ideas from anywhere in the world that are based upon or enabled by nanotechnology, and which will provide a superior means of meeting a market need," said Cyrus Taylor, professor of physics, director of the physics entrepreneurship program, and coordinator of science entrepreneurship programs at Case Western Reserve University.

While entries may represent any area of technology, ideas in the areas of energy, healthcare and medicine, aerospace and automotive applications, and consumer products are particularly favored to win.

A distinguished panel of judges -- including Mike Kenney of ASM International -- will determine the distribution of the prize money for the international competition. Presentations by finalists and the awards ceremony will be held on Oct. 20-21 during NanoWeek 2005 in Cleveland. The awards ceremony will be at Case Western Reserve on Oct. 21 and is open to the public, free of charge.

ASM International is a co-sponsor of the highly successful Nano App Summit event that is being held in Cleveland this week. The summit features "real- world successes": nano-enabled products and processes in the aerospace, automotive and consumer products markets. "As The Materials Information Society, ASM is heavily involved in emerging technologies -- like nanotechnology -- that are changing our world," Theobald said.

Contact Rego Giovanetti, Communications Officer, 216/215-2681 (cell)