The Tyndall National Institute in Cork generated an income of €30.6 million in 2013, according to the institute's latest annual report.
The report said Tyndall's growing status and international reach are attracting crucial foreign direct investment through multinational companies such as United Technologies, Qualcomm and Hittite Microwave Corporation.
Tyndall, established in 2004 as a successor to the National Microelectronics Research Centre at University College Cork, opened a new laboratory for research and teaching in next-generation wireless communications during 2013.
Last year also saw 31 PhD students graduate from Tyndall. More than 130 postgraduates are being mentored through their masters and PhD programmes this year.
Tyndall chief executive Kieran Drain said 2013 was a breakthrough year for the institute: "At the close of the first year of our five-year strategic business plan we can see real progress. As well as making a number of structural and organisational improvements we have seen significant advances in all of our core research areas and applications sectors of health, ICT, energy and environment."
