1. An electronic portal data processing system for automatically assisted generation of composite applications composed of instantiable components comprising: a portal system executing in a memory of a computer by at least one processor, the portal system: a) dynamically accessing a data source comprising one or more components for use within a composite application, b) parsing the data source to identify the one or more components matching a predetermined functionality specification standard indicating a specific functionality requirement the one or more components possess, c) ranking the identified one or more components according to predetermined ranking criteria, d) defining a list of selected usable components from the ranking, e) storing at least a subset of the selected usable components in a local storage, f) deploying the composite application from the selected usable components, g) monitoring the selected usable components for updates to ones of the selected usable components used for an instantiation of the composite application, h) upon discovering an update for one of the ones of the selected usable components used for the instantiation of the composite application, checking to determine whether requirements of the one comply with requirements of the composite application, and, i) upon determining that the requirements of the one comply with the requirements of the composite application, automatically binding the update for the one into the composite application.