The primary drive in the technical advances of heat and mass transfer being sought is to develop a deeper understanding of the physics of multiphase flow, and having acquired that insight, to develop appropriate mathematical models to predict the phenomena involved. Research programme Transient Two-phase Flows, funded by the Slovenian Research Agency for the period 2009 to 2014, comprises three thrust directions: The principles of complex fluid dynamics, Flow-induced materials problems, and Fluid-structure interaction. A short audio-video demonstrates that the multiphase flows considered are not restricted to simple geometry only, but also include complex systems including a variety of boundary types and moving surfaces (such as stirrers) which are common in the industry. List of the Programme researchers and the references can be found under http://sicris.izum.si/, SRA code P2-0162.