Ontologies and software modeling are related in several ways. Ontologies can be used to define modeling languages and integrate with model-driven engineering (MDE). However, using ontologies like OWL to fully represent modeling languages has challenges, as OWL does not support all needed concepts like collections. While early work has integrated ontologies and MDE at both the language and model levels, many open challenges remain around areas like requirements engineering, software processes, and developing domain-specific modeling languages.