The Project is to investigate foundational and conceptual aspects of string theory ("What is string theory?"), with an emphasis on the idea of open/closed duality. The long term physics goal is a well-defined and calculable fundamental theory of Nature. This project has also a strong bearing on the dynamics of ordinary quantum field theories. One of the central themes is the equivalence between string theory in appropriate backgrounds and quantum gauge theories. The investigations utilizes "microscopic", worldsheet, intrinsically stringy techniques. Basic tools are the full space-time string field theories that incorporate the entire spectrum of string modes. Another aspect of the project infolves LHC physics. The broader impact of this proposal is that many aspects of the project are interdisciplinary and have an impact in other fields such as pure mathematics and statistical mechanics. The investigations carried in the project will be instrumental in the training of students and post-doctoral research associates at the Yang Institute for Theo- retical Physics through collaborations and discussions, and elsewhere through lectures at schools and pedagogic review articles for the broader physics and mathematics community.