This study investigates novel applications of bicomponent polymer nanofibers designed and manufactured by gas jet fiber (GJF) method. An aerodynamic force is applied to draw a jet of polymer solution from a nozzle to convert it into polymer nanofibers. The jet of polymer solution undergoes rapid stretching and turns into solid nanofibers as the solvent evaporates. The nanofibers are collected as non-woven mat. Bicomponent nanofibers are produced using a homogeneous solution of two miscible solvents and two immiscible polymers. Different morphologies, such as core-shell, bi-lobal and interpenetrating network (IPN) are formed owing to evaporation-induced-phase separation of the polymer during stretching of the liquid jet. Nanofibers of hydrophobic polyvinyl acetate (PVAc) and hydrophilic polyvinyl pyrrolidone (PVP) are produced. This work investigates morphology selection of nanofibers from homogenous solutions of two immiscible polymers in two mutually miscible solvents. Bicomponent nanofibers of desired fiber characteristics, such as pore size and distribution, wettability, porosity and surface area with different morphologies are then used in developing coalescing filters to separate water from ultra-low sulphur diesel and in delivery of drugs from wound dressing materials.