To address the challenge of virtual process engineering (VPE), a systematic co-design of the physical model, numerical software, and computer hardware was conducted, eventually leading to the so-called EMMS Paradigm, which can greatly accelerate simulation speed while reducing its cost. Following this paradigm, a multiscale software framework was developed, coupling continuum and coarse-grained discrete simulations and a multiscale hardware architecture with different parallelization schemes, which have drawn the dream of VPE a substantial step closer: High-resolution interactive simulation of pilot-scale reactors or direct numerical simulation of microreactors, both at quasi-real time speed for the multiphase hydrodynamics, are now possible on the upgraded Mole-8.5 supercomputing system. The spectrum of multiscale methods available or to be developed for different purposes in VPE, and the corresponding software and hardware co-designing from more fundamental levels, are discussed also.