The high-throughput search paradigm adopted by the newly established caloric materials consortium – CaloriCool® – with the goal to substantially accelerate discovery and design of novel caloric materials is briefly discussed. We begin with describing material selection criteria based on known properties, which are then followed by heuristic fast estimates, ab-initio calculations and measurements, all of which has been implemented in a set of automated computational tools. We also demonstrate how theoretical and computational methods serve as a guide for experimental efforts by considering a representative example from the field of magnetocaloric materials