Nanotechnology is an emerging technology poised to benefit society both technically and socially, but as with any new advance, there is potential risk. This paper describes a novel deliberative exercise involving nanotechnology that engages the public in debate regarding the funding of nanotechnology-related research while also discussing potential risks and benefits of this emerging field of science. In a 2-h time frame, participants are provided with general background terminology and examples of advances in nanotechnology in 10 different research areas. The participants are then asked to reach consensus on how the funding should be distributed among these 10 areas. Overall, we found that participants gained factual knowledge and confidence in their knowledge. They valued learning about nanotechnology and the opportunity to discuss a real-world relevant topic with others.