Nanotechnology may restructure the technological applications such as semiconductors, inorganic as well as organic materials, energy storage, and biotechnology. It integrates chemistry, physics, materials science, and biology to design and create new material properties of electronic devices, biomedical products, high performance materials and consumer articles. Composites or new product requires emphasis on new functionalities. Commercialization of nanotechnology based products and production of unique performance with customer benefits further puts challenge of reasonable cost, particle formation, precise processing, and desired fabrication of nanomaterial. The commercialization of nanotechnology will certainly boost technical development, improved quality of life and societal benefits. The paper describes new systematic approaches of synthesis and device formation of nanotechnology based composits: 1. Nano synthesis: making nanoscale building blocks including nanoparticles, nanotubes, and nanostructures; 2. Nano characterization: measuring and characterizing the basic properties of nanoscale building blocks, intermediate and final product forms; 3. Nano processing and nanofabrication: manipulating and processing nanoscale building blocks for a desired purpose and incorporating nanoscale building blocks. Organic conducting polymers or “synthetic organic metals” are p-doped polymers: polyaniline, polypyrrole, poly (p-phenylene vinylene), polythiophene and their derivatives. Theses composites display semi-conducting nature, electro-activity, and plasticity. Nanoconducting polymers are useful in electronic, optical and magnetic properties, self assemblies at the molecular level.