In order to promote the introduction of emerging technologies in the process industry, it has been established the two types of supporting R&D activities can be effectively pursued in parallel: (1) new catalyst synthesis methods that eliminate or minimize mass transfer limitations; and (2) multi-functional reactors by integrating catalysis, heat transfer and/or separation. Catalyst Synthesis: In this paper, several methods of catalyst tailoring will be described that can minimize mass transfer limitations at industrially relevant conversion levels. Three (3) specific examples have been selected to demonstrate what can be achieved: (1) micro-engineered catalyst that enables enhanced inter-phase transfer; (2) new mesoporous catalysts with ultra large pores to accommodate slowly diffusing reactants; and (3) customized zeolites of extremely small particles to achieve high effectiveness factors while retaining the virtues of shape selectivity. Multi-functional Reactors: Applying process intensification principles, mature high-volume petrochemical processes can be improved dramatically, beyond the expected progress. This will be described using three (3) specific examples: (1) intra-reactor oxidative reheat for the production of styrene, by staging endothermic and exothermic reactions in series; (2) simultaneous operation of endothermic, dissociative adsorption of methane with exothermic, oxidative removal of carbon during catalytic partial oxidation; and (3) catalytic distillation for the production of ethers, ethyl benzene and the selective hydrogenation of highly unsaturated components in olefins streams.