Not all "nano" is created equal. Nanostructures formed through tops down construction are widely used in the creation of electronics and have shipped in volume for several years. Nanomaterials that are formed through bottoms-up synthesis or self-assembly are at a comparably early stage in research and development. Combining the two approaches has considerable promise but also significant hurdles to overcome. To illustrate we will discuss three potential applications for nanomaterials and some of the challenges to successful implementation in manufacturing. First consider the problem of forming nanostructures as the size of the features begins to approach molecular dimensions. A 20nm wide structure would only consist of 10 resist molecules side by side if the resist molecule were 2nm in size. That introduces significant granularity which up to now has not been a key concern. This problem could be addressed by designing self-assembly molecules with the proper combination of sensitivity to illumination, chemical properties, and physical size. A second potential application is the formation of dielectrics between metal lines for interconnects. An ideal dielectric is an insulator, strong enough to withstand forces generated with temperature cycling, a barrier to migration of materials, and for performance reasons has a low dielectric constant. These could in principle be met through design of the right building blocks but there are complications with integration in the overall process flow. Finally nanodevices formed through self-assembly (ex. nanotubes) could in principle allow formation of very small devices but the challenge of precision formation, placement, and again integration are daunting. These challenges are not insurmountable but need to be addressed through the right research and development so that the promise of nanomaterials can be achieved.