Trinity College Dublin has announced plans for a €70 million building project involving a new Trinity School of Business and an Innovation and Entrepreneurship Hub.

The university said the school and hub will be co-located as part of efforts to increase job creation across the campus and in Dublin city centre.

Provost of Trinity Dr Patrick Prendergast said the new Trinity School of Business showed the university was committed to investing in innovation and entrepreneurship.

He said: "We want the message to go out to students in Ireland and globally that Trinity is a university that educates and motivates students to create jobs, as well as to get them.

"Working together, higher education institutions and Government can create the environment that draws the research and enterprise communities into partnerships, promoting innovation, entrepreneurship, and new business creation."

Building is expected to begin next summer and should be completed in 2017.

The Trinity School of Business, located on the technology quarter of the campus, will offer a full range of business-related programmes at undergraduate, postgraduate and executive education levels.

The new Entrepreneurship and Innovation Hub will provide space for prototyping and company incubation projects and academic and administrative offices.