Smart systems consist of heterogeneous subsystems and components providing different functionalities; they are normally implemented as "Multi-Package on a Board". To fully exploit the potential of current nanoelectronics technologies, as well as to enable the integration of existing/new IPs and "More than Moore" devices, smart system miniaturization and "Multi-Chip in a Package" implementation are unavoidable. Such goals are only achievable if a flexible software platform (i.e., the SMAC platform) for smart subsystems/components design and integration is made available to designers and system integrators.The platform must include methodologies and EDA tools enabling multi-disciplinary and multi-scale modeling and design, simulation of multi-domain systems, subsystems and components at all levels of abstraction, system integration and exploration for optimization of specific metrics, such as power, performance, reliability and robustness.Key ingredients for the construction of the SMAC platform include: (1) The development of a cosimulation and co-design environment which is aware (and thus considers) the essential features of the basic subsystems and components to be integrated. (2) The development of modeling and design techniques, methods and tools that, when added to the platform, will enable multi-domain simulation and optimization at various levels of abstraction and across different technological domains.The SMAC platform will allow to successfully address the following grand challenges related to the design and manufacturing of miniaturized smart systems: (1) Development of innovative smart subsystems and components demonstrating advanced performance, ultra low power and the capability of operating under special conditions (e.g., high reliability, long lifetime). (2) Design of miniaturized and integrated smart systems with advanced functionality and performance, including nanoscale sensing systems, possibly operating autonomously and in a networked fashion