It may take sophisticated microscopes to see nanotechnology's products, but the money pouring into the field is hard to miss.

The industry gained new visibility on Dec. 3 when President Bush signed a law authorizing federal research and development subsidies of $3.7 billion over the four years, beginning next October. The Oval Office photo opportunity for nanotechnology, coincidentally, came the same day that Nanogen, one of a handful of publicly traded start-ups, disclosed that it had received a patent for a nanoscale manufacturing method that it said could be used to make advanced microchips and flat-panel displays. Nanogen's stock more than doubled that day, leading the sector higher.

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