In the coming decade, implementation of smart specialisation strategy concept will be topical for all EU member states given a special focus made on the areas of technology and innovation. Members of academic community conduct research in these areas to identify the challenges and offer optimal solutions to the complicated problems. It is of particular importance for the countries with a relatively modest capacity for innovation. Some of the aims of the Latvian smart specialisation strategy are to establish a platform for cooperation between research community and the private sector and to develop nanostructured materials industry. The paper analyses research results in the field of nanotechnology in Latvia using the data on the publications and projects, as well as publication citation indices. Publicly available information on performance results of the selected enterprises in the field of nanotechnology is analysed and benchmarked using public data on performance indicators of the manufacturing industry with regard to technological intensity.