In light of the contemporary societal challenges and the current technological trends that have revolutionized collaboration and creativity, ICT for Governance and Policy Modelling has recently emerged to achieve a better, participative, evidence-based and timely governance. Bringing together two separate worlds, i.e. the mathematical and complex systems background of Policy Modelling with the service provision, participation and open data aspects in Governance, it has recently gathered significant attention by researchers and practitioners. This paper presents the grand challenges that will inspire research in the domain in the next years, as well as the track from the state of play study, the visionary scenarios building and the gap analysis that has eventually led to their recognition. The specific research challenges target at achieving a collaborative, model-based governance with a strong scientific basis, empowered with data in order to reach collective intelligence, and providing public services as a utility.