Soluble polymers have been used as supports for reagent/catalyst immobilization and synthesis. Two polymers are commonly used in this context, linear polystyrene and poly(ethylene glycol). The complementary solubility properties of these polymers allow access to a wide range of chemistries. Parallel and combinatorial libraries of small molecules have been prepared using these polymers, and reagents/catalysts that are easily recovered and recycled have been immobilized on them. To develop soluble polymers with novel properties, bifunctional polymerization initiators have been used in a parallel combinatorial methodology to prepare block copolymers that exhibit unique solubility profiles.