Third-level institutions in Ireland are being encouraged to compete for some €300 million in funding under a major five-year Government reform programme launched by Minister for Education Mary Hanafin yesterday.
Inviting proposals from interested institutions to avail of the first €40 million tranche of funding under the Strategic Innovation Fund, Ms Hanafin said it aimed to promote collaboration and change in higher education.
"The aim of the fund is to support institutions to achieve new levels of individual and collective performance.
"The Government recognises the imperative for investment in third and fourth-level education if we are to succeed in today's highly competitive global knowledge environment.
"Our future economic and social prosperity now depends on the strength of our research and development base, on our ability to produce new and better products and on our ability to provide the highly educated and creative people that are essential for success in the knowledge intensive industries of the future," the Minister said.
Two further allocations of €130 million each are also expected to be made from the fund over the next five years.
Proposals received by the Higher Education Authority, which is administering the fund, will be evaluated on a competitive basis by an independent international panel.
The first funding awards will be notified to institutions in October.