We suggest a project aimed at improving the understanding of ultracold molecules, with a focus on their creation and applications in astrophysics and quantum computation. It has four objectives. First, to conduct original theoretical/experimental spectroscopic studies for selected molecules. Second, to use the obtained data to investigate methods related to the production of ultracold diatomic molecules. Third, to model the behavior of candidate ultracold molecules in quantum computing applications. And fourth, to apply our models to the detailed understanding of astrophysical processes. Results will add value to various astrophysical spectroscopic databases such as the ExoMol database. There is also significant potential for contribution to the UAE Space Agency, and in particular with the HOPE Mission. Finally, the results of the project, related to Quantum computation, align directly with The KU Research Center on Cyber-Physical Systems (C2PS) needs and should complement its scientific activities.