Through detailed case studies of the most important advanced material creations of the latter 20th and early 21st century, the author explores the role of the field of advanced materials in the technological and economic activity today, with implications to the innovation process in general. A comprehensive study that encompasses the three major categories of advanced material technologies, i.e., Structural Materials (metals and polymers), Functional Materials (transistor, microchip and semiconductor laser) and Hybrid and New Forms of Matter (liquid crystals and nanomaterials). Extensive use of primary sources, including unpublished interviews with the scientists, engineers, and entrepreneurs on the front lines of advanced materials creation Original approach to case study narrative, emphasizing interaction between the advanced material process, perceived risk and directing and accelerating breakthrough technology