  Nanotechnology is the first major worldwide research initiative of the 21st
century and probably is the solution vector in the economic environment. Also,
innovation is widely recognized as a key factor in the economic development of
nations, and is essential for the competitiveness of the industrial firms as
well. Policy and management of innovation are necessary in order to develop
innovation and it involves processes. It is essential to develop new methods
for nanotechnology development for better understanding of nanotechnology based
innovation. Nanotechnologies reveal commercialization processes, from start ups
to large firms in collaboration with public sector research. In the current
paper, a study in the present status of innovation in nanotechnology and the
affection of global economic crisis in this section is made and also the
potential of increase the innovation via the presence of clusters in a small
country like Greece which is in the eye of tornado from the global crisis is
studied.
