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Introduction Modern biotechnology or third generation biotechnology refers to a set of techniques involving manipulation of the genetic patrimony of an organism such as genetic engineering (recombinant DNA technology, monoclonal antibody techniques, gene synthesis), cell and tissue cultures, protein synthesis, and enzymology. As a technological revolution, it preceded nanotechnology by about thirty years. The two technologies share a number of common features. Like biotechnology – nanotechnology is a set of generic-platform, general-purpose technologies with potential applications in many sectors. Alone and together, they have the potential to profoundly change the mode of production in almost all industries, while being the motors of economic growth with inclusive development. Both are highly science-intensive, and equipment-intensive, requiring cooperation between scientists from various disciplines for innovation generation. From the 1980s, when it became evident that biotechnology as a generic technology would be crucial to economic power and national competitiveness, emerging countries also began to invest in it and accumulate experience. Since nanotechnology is so similar to biotechnology in terms of the challenges presented for their integration into strengthening industrial capabilities, it is natural to enquire: what are the lessons that emerging countries have learnt from their biotechnology experience? Have the lessons been incorporated into policy design for better performance in nanotechnology? © Cambridge University Press 2014.