Dow Corning New Ventures was set up in 2001 to investigate nanotechnology and other advancements through industrial, academic, and entrepreneurial partnerships. Partnering activities of Dow Corning and its equals in industry show that they do not intend to get complacent about revenues from older markets in which they dominate, but which could see reduced revenues as low-end suppliers enter their traditional markets. Dow Corning, for instance, collaborates with LightSmyth Technologies to build micro-optical devices, including filters and multiplexers using stamping and embossing processing in custom materials. Large companies often partner with smaller companies that can provide new technology or materials, but smaller companies also mean new market opportunities. Dow Corning's other, similar partnerships are in such areas as photonic components, batteries, and holographic data storage, which Dow regards as potential growth markets for nanomaterials. The deals are not only with startups, but also can be with chemistry and materials science professors in the academic environment. As a way to enable nano-imprint lithography for partners, for instance, Dow is working with John Rogers and Ralph Nuzzo of the University of Illinois. Among topics covered are the balance between industry's increasing interest in applied work and academia more exploration- oriented bent; comments from Randy bell of Nanotechnologies on his alliance with Air Products; leaders looking for new markets; and the industry roadmap created by the Chemical Industry Vision2020 Technology Partnership.