To design next-generation nanodevices, it is of paramount importance to understand the properties of nanostructures as well as its suitability for different nanoelectronic applications over a wide frequency range. The emergence of new materials and devices with nanoscale dimensions give rise to necessity for developing dedicated modeling as well as characterization techniques. Fundamentally new architecture will be needed to develop nanoelectronic devices for different applications. The present work concentrates on modeling, simulation and characterization of nanodevices for its possible applications in the field of wireless communication as well as in Targeted Drug Delivery. Quantum Dot based memory devices are of immense importance for future technology, which is also discussed in this work.