The General Assembly finds and declares that: nanobiotechnology offers tremendous potential to revolutionize medical and life science research and to enable discoveries that will enrich and improve the quality of life for the people of the State; the provision of funds for nanobiotechnology projects is vital to supporting this emerging technology; and fostering partnerships among federal institutions, private sector entities, and institutions of higher education will help secure the State’s position as a leader in nanobiotechnology research and assist in securing the State’s economic future.