Early Adopters in Nanotechnology Law

Thursday, March 16, 2006

I am not an expert in Psychology, however, I can estimate that those tagged with N (iNtuitive) as their primary or secondary function  in the Myers Briggs test are those who are very optimistic about new technologies. A cross reference can be made by through other instrument such as the Big Five psycho-testing.


Everett Rogers had attempted to categorize people's behaviour in anticipating new technologies into 5 distinctive types:






(Image Source: Don Norman)



Innovators are those who invented the products, they are venturesome, educated and have multiple info sources. Early adopters are enthusiastic users, they are social leaders, popular and educated. Early majority are those rather late users, they are deliberate and have many informal social contacts. Late majority is describe as skeptical, traditional, lower socio-economic status. The last of the Mohicans are the Laggards, those who rely on neighbours and friends as their main info sources. They fear debt and fear to take risks. 

Rogers said that 2.5% of the population are "Innovators", the next 13.5% were tagged as "Early Adopters", 34% were the "Early Majority", 34% are the "Late Majority" and followed by the last 16%, the "Laggards". Rogers typology is old and it may not be valid as it assume a certain portion of people to fall into certain categories. Nevertheless, it has been used widely as a marketing segmentation strategy.

Now, I do not wish to use this scheme to explain those who adapts to Nanotech business. Instead, I would like to implement Rogers theory in segmentazing people's behavior toward the currently emerging Nanotechnology Law. As I have explained previously in my posts, Nanotechnology Law are still at its fetus, not even "born" yet. So, at this stage, innovation is still highly possible, and desired.

The market for nanotech is not bad at all, although it has been experiencing a bear market since 2004. The recent project by Woodrow Wilson provided a list of 213 Nanotech companies already in production. A note must be taken that allthough they are nano-companies, I guess most of them only consist of nanomaterials composites or some sort, but has not deeply touch nanoscale technologies. So, we can expect more companies established and go public.

More companies are expected to be established as governments has been poring lots and lots of money to fund nanotech reasearch. The US budget alone exceeds 4 times of their previous year budget. So this makes the cake looks even bigger.

Now, let's analyze those who shares this big cake (per March 16th 2005):

  1. Schwabe, Williamson & Wyatt
    Pacific Northwest, USA
  2. Grellas & Associates
    Cupertino, CA, USA.
  3. Foley & Lardner
    Offices Worldwide.

Only five!

Early adopters have the advantage of driving the market trend. And what about innovators? Oh, they created the market. So why not be innovators instead?

Mohamad Mova Al 'Afghani for Nanotechlaw Weblog

Technorati Tags : , , , ,