In the first period the main activities were focused on (1) Establishing experimental tools for dielectric engineering in the time-domain, (2) Realizing appropriate quantum material platforms, and (3) Demonstrating the impact of strong excitation by low-energy photons on the optical properties of ultrathin materials. Regarding (1), several experimental setups were realized, including a dedicated ultrafast microscopy setup combining optical microscopy with time-resolved, 100 fs detection in pump-probe geometry. Using whitelight super continuum generated by intense laser excitation allowed for addressing a broad spectral range to detect characteristic resonances in two-dimensional semiconductors. The setup was extensively tested and is currently being extended to liquid helium temperatures, while maintaining high spatial and temporal resolution. In addition, an alternative experimental scheme involved combination of sub-bandgap optical excitation and ultra-short-lived photoluminescence was successfully tested. Both setups were combined with precise structural analysis via atomic force microscopy and a combination of optical and THz excitation was tested in an external user facility. To achieve (2), we employed heterostructures featuring combinations of two-dimensional semiconductors with one and few-layer graphene, insulating boron-nitride and titanium oxide quantum dots to realize temporally- and spatially-varying dielectric quantum confinement. Using these structures and the setups from (1) we showed transient bandgap engineering by proximity effect in the neighbouring semiconductor while making graphene conductive for extremely short time. Without perturbing the semiconductor itself, the bandgap was tuned on a sub-picosecond time-scale via transient dielectric screening effect. Using spatially-defined dielectric confinement we demonstrated the impact of quantum dots on the light emission of the proximate two-dimensional material using nanocrystals with extremely large bandgaps in the ultra-violet range. Finally, as a test system for (3) in an extreme limit, we explored the influence of strong excitation via THz photons, showing transient tuning of optical excitations and the required absence of multi-photon injection. The combined results are highly encouraging to achieve substantial changes of the electronic structure at higher temperatures, as well as to merge spatially- and temporally-defined bandgap engineering in the second phase of the project.