There is a growing need for fresh and systematic evidence about company innovation in emerging technologies such as nanotechnology. It is particularly important to track shifts from discovery to commercialization at the later stages of the innovation process, where diverse product and financial strategies may be pursued. This paper presents results from a pilot study of of small and medium-sized enterprises (SMEs) based on a web-scraping and content analysis of current and archived nanotechnology enterprise web sites. We use this novel approach to explore nanotechnology SMEs transitions from discovery to commercialization and understand how transitions vary by SME characteristics, technology and market sectors. A sample of 30 US nanotechnology SME web sites is analyzed, covering a time period that ranges from 1997 to 2010. Our findings suggest that although the idealized linear innovation model is present, important instances of divergence exist. In particular, federal funding and conferences, both expected to characterize early research stages also play a role in late stage commercialization. Factor analysis uncovered sectoral differences between nanobiotechnology, nanoelectronics and nanoenergy. While this pilot analysis has limitations of sample size, it demonstrate the potential of using web-scraping techniques to offer new insights about enterprise commercialization strategies