Dual dynamics of promises and waiting games around emerging nanotechnologies

Abstract

Newly emerging science and technologies (NEST) are shaped by dynamics of promises. There is a paradoxical effect: diffuse and open-ended promises are forceful in policy discourse, but may hinder the realisation of these promises. Innovation actors are reluctant to invest in concrete developments because the promises are open-ended, and eventual demand is not articulated. This is a structural issue, and leads to 'waiting games' in which actors are entangled. We show how the occurrence of waiting games is linked to dual dynamics of promises in two fields where nanotechnology offers an open-ended ('umbrella') promise: organic and large area electronics and nano-enabled drug delivery. Based on such understanding of dynamics, our scenario exercises explored strategies to overcome waiting games.