The Research Unit for Nanostructured Materials Systems is a new formation which aspires in developing into a Centre of Excellence for Materials Research. It is co-funded by the European Union and the Republic of Cyprus through the Structural Funds and Research Promotion Foundation respectively. It started its operation in 1st of November 2010 and in a period of four years it plans to develop the necessary infrastructure and expertise to tackle materials-related problems pertinent to the economically important local industries. In doing so, we plan on developing three pillars of operation in which materials will be (a) simulated computationaly, (b) synthesized with microstructural accuracy, and (c) characetrized nanoscopically for control and optimization. The ultimate goal is to contribute to the efforts in making Cyprus technologically competitive in the field of Advanced Materials on a European and international level.