NeOn is a 14.7 million Euros project involving 14 European partners and co-funded by the European Commission’s Sixth Framework Programme under grant number IST-2005-027595. NeOn started in March 2006 and has a duration of 4 years. Our aim is to advance the state of the art in using ontologies for large-scale semantic applications in the distributed organizations. Particularly, we aim at improving the capability to handle multiple networked ontologies that exist in a particular context, are created collaboratively, and might be highly dynamic and constantly evolving. The first release of the NeOn Toolkit, one of the core outcomes of the NeOn project, is available for download and testing from the NeOn Toolkit & Community site.