Nanoscale synthesis and processing provides a novel approach for making a new generation of nanocomposite materials with exceptional optical and electrical properties that are needed for the development of new technologies. This presentation will focus on the preparation of nanocomposites made of Poly (para-phenylene vinylene) (PPV) with other polymers, inorganic glasses and semiconductors. We will present a new approach of nanoscale polymerization for making processable monodispersed oligomeric species of PPV which uses the base catalyzed polymerization of PPV monomer within the cavity of a reverse micelle nanoreactor. Application of this approach of fabricating novel materials for a variety of applications in photonics will also be discussed. In addition, we will discuss fabrication of bulk nanocomposites of PPV and silica by insitu polymerization of monomer within a porous glass and their lasing properties.