[28.02.2008 first posted on silicon republic]
The Irish Government has revealed it is to spend €50m to boost the development of businesses in the regions, with the Institutes of Technology set to play a pivotal role.

The funding will be used to build up the research and innovation functions at the Institutes of Technology in Tallaght, Carlow, Sligo, Tralee, Dundalk, Athlone and Castlebar, so they can in turn nurture start-ups and help existing businesses.
The €50m will be used to purchase industry-relevant research equipment, provide more incubation space for start-ups and establish market-focused research groups in the Institutes.
“Balanced regional development is a Government priority and the Institutes of Technology have a unique and critical role to play in achieving this goal,” explained the Minister for Enterprise, Trade and Employment, Micheál Martin TD.
“I am looking forward to the extension of Enterprise Ireland’s Campus Incubation programme, which has already made a big impact with the creation of 172 new companies employing 584 people in all types of sectors from e-learning, to biotechnology and digital media,” Minister Martin added.
Feargal Ó Móráin, executive director, Enterprise Ireland, said the state agency has invested over €100m in enterprise-focused programmes delivered through the Institutes of Technology.
Ó Móráin cited the new Synergy Centre at IT Tallaght as an excellent example of how this investment supports high-technology and knowledge-intensive enterprises which have real potential to foster innovation, create jobs and generate export potential.
“We see IT Tallaght and the other 13 Institutes around the country as key partners in our effort to increase productivity, exports and jobs in towns around Ireland,” Ó Móráin added.
By John Kennedy