This paper captured the high level requirements and attributes that a public-private partnership to advance modeling and simulation in small and medium sized manufacturers must contain, as captured on August 31, 2010 at the University of Chicago Gleacher Center summit. This document became the framework for what evolved into the proposal for the National Digital Engineering and Manufacturing Consortium (NDEMC), slated to launch in spring of 2011 with the Council on Competitiveness as lead agency.