New York/London, December 11, 2003 — The World Economic Forum today announced the 30 companies selected worldwide as "Technology Pioneers" for 2004. Company nominations are made by the international venture community and members, constituents and collaborators of the World Economic Forum. Candidates are reviewed and evaluated by an external Selection Advisory Committee.

The Technology Pioneers 2004 are profiled in a report being published today by Apax Partners and the Economist Intelligence Unit entitled, "The Next Big Thing?"  The emergent technology trends represented by the Technology Pioneer companies selected are: ubiquitous computing, nanotechnology, biotechnology and energy technology. Ubiquitous computing will become the fabric of everyday life by integrating computing and communications power into almost everything, from fridges to clothes to door-handles to wallpaper. Nanotechnology, by integrating nanoscale components with conventional electronics, is now in the stages of creating nanotech products. Biotechnology is making rapid progress in the understanding of computer data which has led to new approaches in drug design and discovery. Alternative energy technologies are beginning to switch to a "hydrogen economy," which involves using hydrogen as a medium for the storage and transmission of energy.

"It is probably too early to say if those companies chosen as Tech Pioneers 2004 support a new trend in the sorts of areas that are providing breakthroughs in technology, but the companies we have selected as Technology Pioneers exemplify the ingenuity and drive that underpin life-changing innovation and, just as important, their discoveries are now reaching market readiness," said José María Figures, Co-Chief Executive Officer of the World Economic Forum. "Without a doubt four key fields have emerged as the area to watch since the demise of the Internet bubble."

The programme is run by the World Economic Forum, with guidance from Apax Partners and Deloitte. Thirty companies were selected as Technology Pioneers for 2004. See the complete list of Technology Pioneers for 2004, or learn more from our 31-page report,  "The Next Big Thing?", which includes profiles of all 30 companies, including:

• Nanomix, from the United States, which is manufacturing "nanoelectronic sensors" produced at small size and lower power consumption for a market where competing products cost hundreds or even thousands of dollars per installed sensor. The technology could be used for leak detection in oil refineries, indoor air quality sensing in offices and chemical detection in drinking water.

• CK Life Sciences, the first nominee from China, which works in the sustainability of food production and development. The company has developed an "eco-fertilizer" that provides high yields and increases farm income, but does not cause pollution.

• mnemoScience in Germany which is working in "shape memory" technology. The technology is particularly useful in the medical field where shape memory polymers respond to body temperature to change to a different shape. Possible uses of this technology include coronary stents to prop open arteries or scaffolds to grow new organs.

• Regeneration Technologies, also in the US, which is working in the field of human donor tissue with a sterilization and viral inactivation process that ensure tissue safety. The company’s new process is able to inactivate the most resistant organisms that could lead to serious infection and could hinder recovery from surgery.

Dr. Peter Englander, Partner at Apax Partners Worldwide, said: "Technological development is ongoing. As the costs of the product of these technologies continue to fall, for example information processing costs, new applications will be found. There was an overshoot in the expectations of the technology sector at the end of the 90s, the market then corrected and we are now seeing the beginnings of a recovery. The four fields we have identified in this year's Technology Pioneer report as being of particular interest are biotechnology, ubiquitous computing, nanotechnology and energy technology. It is likely that elements from each will find their way into applications that have a far-reaching effect on all of us."

Anne Taylor, Director of Strategy and Planning at Deloitte, added: "With Deloitte's involvement over the last two years, I've had the opportunity to meet the minds and personalities behind the cutting-edge technologies we hear about every day. The Tech Pioneer programme introduces leaders of innovation to global leaders in business, politics, technology and health sciences. Through their interaction with Forum members, Tech Pioneers bring new insight and approaches to the industries in which they operate."

In another interesting development, the United States has continued to underline its primacy in technology innovation with this year’s announcement. Of the 30 companies named as Tech Pioneers, 18 are from the United States and only seven are from Europe. Last year the figures showed a similar split with 70% of the companies coming from North America.

The Technology Pioneers programme is part of the World Economic Forum’s continuing commitment to supporting and identifying unique technology innovations. "Society is at an interesting crossroad where we are becoming more and more dependent upon technology, but we are also fearful of the ramifications of research and technology innovation," stated Professor Schwab, Founder and Executive Chairman of the World Economic Forum. "The Forum is uniquely placed to be able to encourage real discussion about science and technology and the boundaries and ethical implications involved in research and innovation."

About the World Economic Forum
The World Economic Forum is an independent international organization committed to improving the state of the world. The Forum provides a collaborative framework for the world's leaders to address global issues, engaging particularly its corporate members in global citizenship. Incorporated as a foundation, and based in Geneva, Switzerland, the World Economic Forum is impartial and not-for-profit; it is tied to no political, partisan or national interests. The Forum has NGO consultative status with the Economic and Social Council of the United Nations.

About Deloitte
Deloitte Touche Tohmatsu is an organization of member firms devoted to excellence in providing professional services and advice. We are focused on client service through a global strategy executed locally in nearly 150 countries. With access to the deep intellectual capital of 120,000 people worldwide, our member firms (including their affiliates) deliver services in four professional areas:  audit, tax, consulting, and financial advisory services. Our member firms serve over one-half of the world's largest companies, as well as large national enterprises, public institutions, and successful, fast-growing global growth companies.

Deloitte Touche Tohmatsu is a Swiss Verein (association), and, as such, neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu," or other related names. The services described herein are provided by the member firms and not by the Deloitte Touche Tohmatsu Verein. For regulatory and other reasons certain member firms do not provide services in all four professional areas listed above.