Network Functions Virtualization (NFV) and Software Defined Networks (SDN) enable rapid networks and services innovation for all participants in the ecosystem. Decoupling network functions from the underlying physical infrastructure using virtualization technologies enables Service innovation. SDN allows programmability of the NFV infrastructure to support the deployment of new network functions in a variety of environments including campus & enterprise networks, data centers, telecommunications networks providers, ISPs, cloud providers and over-the-top (OTT) applications & services providers. NFV enables network capacity and functionality to be decoupled, allowing network functions to be dynamically deployed whenever they are required and wherever they can be hosted. The dramatic industry transformation implied by NFV and SDN will not only impact network computing platforms and network architecture, but will also open up new avenues of research. Further, it enables the deployment of new network functions that enable smart cities/homes/cars/businesses, green infrastructures, new types of user interfaces and cyber-physical reality.