Quantum mechanics is the basis of our understanding of the microscopic world. It is also central to the collective behaviour of matter at low temperatures, leading to unique properties that defy our classical intuition. The comprehension of such ‘quantum matter’ and the ability to master it using a newly developing set of ‘quantum technologies’ is not only of fundamental interest but holds the promise of revolutionizing material and information science as well as metrology. Our aim is to take this interdisciplinary research field to a qualitatively new level, by taking advantage of the most recent spectacular advances in the control of ultracold atomic and molecular systems. To this end, we have gathered a team of PIs with well-recognized and complementary expertise in the domains of quantum optics, atomic and condensed matter physics, and information science.Our project is structured around three grand challenges: (i) Produce, understand and classify novel states of matter, including strongly correlated and topological quantum phases, and establish connections with simulation of field theories; (ii) Explore novel aspects of many-body dynamics, identify its universal regimes, and implement new classes of dissipative evolution; (iii) Engineer quantum matter to propose and implement new paradigms for information processing. We believe that only a joint effort, combining experimental tools beyond the state-of-the-art and novel theoretical approaches, will allow us to reach these outstanding goals. An essential element of the project, which will embody the synergy between the different perspectives brought by the PIs, will be the joint construction of an experiment employing transformative technologies. Our overall research program will allow us to address key questions on the nature of quantum matter and its potential high impact applications.