Modelling and simulation: from nanoscale insight to economic impact Starting from an overview of challenges faced by scientists and engineers in sectors such as electronics and composite materials the opportunities for modelling and simulation from the electronic level to the mesoscale will become evident. However, a critical overview of current modelling and simulation methods will lead to the conclusion that there are significant challenges due to the multi-scale nature of many applications. In addition, the “multi-material” challenge typical for modern nanotechnology applications that involve interfaces between different types of materials (such as inorganic and organic or biological) will be discussed, as well as the issue of configurational space. This leads to the question of whether, where and how modelling and simulation makes an impact. Application examples will be given based on different approaches including single and multiscale simulation, high-throughput computational screening and integrated computational materials engineering. Finally, the economic impact of modelling and simulation will be discussed.