Model-based spreadsheet engineering aims to address issues with traditional spreadsheets by incorporating formal models. The presentation discusses three key aspects: (1) automatically inferring models from existing spreadsheets, (2) embedding modeling capabilities within spreadsheets, and (3) maintaining synchronization between models and spreadsheet data through bidirectional transformations. An open-source tool called MDSheet has been developed that allows users to create, evolve, and synchronize spreadsheet models and data.