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Nanotechnology is a scientific field that uses system or component development techniques to build products on highly granular levels. Nanotechnology works through different approaches to build nano materials or products, including bottom-up, top-down and functional system development. In a bottom-up approach, a product is designed as it evolves from its tiniest form factor to larger product.
Nanotechnology is the creation of functional materials, devices, and through control of matter on the (1 to 100+ nm) length scale and the exploitation of novel properties and phenomena developed at that scale. Source. The art of manipulating materials on an atomic or scale especially to build microscopic devices.