The classical materials creation process involves a laborious procedure wherein intuition drives the design of a material that is then created, and tested. In most cases, the design goals are not attained, and this costly procedure is repeated. The Materials Genome Initiative (MGI) seeks to replace this process and thus bring innovative new materials into commercial applications faster and at a lesser expense. The Center for Hierarchical Materials Design (CHiMaD) is the NIST-sponsored Center of Excellence for Advanced Materials Research focusing on developing the next generation of computational tools, databases, and experimental techniques in order to enable the accelerated design of novel materials and their integration into industry. To illustrate the potential of the MGI, we are designing a wide range of materials from Co-superalloys to block co-polymers for nanolithography. Each of these design efforts requires databases and simulation. A discussion of the databases, data mining and materials simulation efforts will be given.