The ever growing traffic explosion in mobile communications has recently drawn increased attention to the large amount of underutilized spectrum in the millimeter-wave frequency bands as a potentially viable solution for achieving tens to hundreds of times more capacity compared to current 4G cellular networks. Historically, mmWave bands were ruled out for cellular usage mainly due to concerns regarding short-range and non-line-of-sight coverage issues. In this article, we present recent results from channel measurement campaigns and the development of advanced algorithms and a prototype, which clearly demonstrate that the mmWave band may indeed be a worthy candidate for next generation (5G) cellular systems. The results of channel measurements carried out in both the United States and Korea are summarized along with the actual free space propagation measurements in an anechoic chamber. Then a novel hybrid beamforming scheme and its link- and system-level simulation results are presented. Finally, recent results from our mmWave prototyping efforts along with indoor and outdoor test results are described to assert the feasibility of mmWave bands for cellular usage.