FIC was founded in December 1999 in the U.S. FIC manages patents for fullerenes and carbon nanotubes and plans businesses utilizing these items.

The Technology & Business Development Department of Mitsubishi Corporation looks at businesses at a mid to long term span compared to the other business departments within the company that looks at that in a short span. The Technology & Business Development Department incubates new business through research, development, and commercialization of new technology and intellectual properties. The PIRI Co. that brought Mitsubishi Corp. a capital gain profit of 80 billion yen in 2000 is one of the notable achievement brought through the continuous support of this department, Battelle Memorial Institute of the US, and NTT since 1987. Mitsubishi Corporation fully supports Nanotech Partners with its business creativity and its global network.