Fabrication and operation on increasingly smaller dimensions have been highly integrated with the development of smart and functional materials; they are key to many technological innovations to meet economic and societal needs. Along with many researchers worldwide, the Waterloo Institute for Nanotechnology (WIN) has long realized the synergetic interplays between nanotechnology and functional materials and designated “Smart & Functional Materials” as one of its four major research themes. Thus far, WIN researchers have utilized the properties of smart polymers, nanoparticles, and nanocomposites to develop active materials, membranes, films, adhesives, coatings, and devices with novel and improved properties and capabilities. In this review article, we aim to highlight some of the recent developments on the subject including our own research and key research literature in the context of the UN Sustainability development goals.