One of the great challenges of society is innovation through the development of new and advanced materials. Such tailored materials are needed in all key-technological areas, from renewable energy concepts, through next-generation data storage to biocompatible materials for medical applications and many of these future materials will be synthesized on a nano-scale. In order to reach these goals, state-of-the-art analytical tools are needed. High magnetic fields are one of the most powerful tools available to scientists for the study, modification and control of states of matter, and in order to compete on the global scale, Europe needs state-of-the-art high magnetic field facilities which provide the highest possible fields (both continuous and pulsed) for its many active and world-leading researchers.