The document outlines the objectives and developments of the NECOS project focused on lightweight slice-defined cloud (LSDC) and network slicing, emphasizing the creation of federated data centers for improved resource management. Key features of network slicing include dynamic provisioning, configuration, and support for multiple services, while exploring use cases such as telco clouds and mobile edge computing. Upcoming events and recommendations highlight the need for interdisciplinary research and appropriate regulatory frameworks to enable successful implementation of network slicing and related business models.