Minister for Transport, Tourism and Sport Paschal Donohoe has said engagement did take place and efforts were made by the Department of the Taoiseach to keep the Web Summit in Ireland.

Yesterday, the event organisers published correspondence between them and senior Government officials, showing how relationships deteriorated significantly in the four weeks prior to the announcement that the event was being moved to Portugal.

In a statement, the Government said the documents "are a selection of rather than a full account of contact between the summit and Government and its agencies".

Speaking on RTÉ’s Morning Ireland, Mr Donohoe said a number of documents will be released under a freedom of information request which will show the breadth of engagement between Paddy Cosgrave and a number of agencies to try to make the event work.

When asked if the Government had dropped the ball in relation to the Web Summit, the minister said there are always things that can be learned for the future and now they have to look at how they can bring the event back to Dublin in the future.

He said that Dublin attracts massively successful events every day and that there are 188 such events booked over the next few years.

He said he would invite anyone to look at the correspondence released by Mr Cosgrave and the response from the Department of the Taoiseach in relation to it.

Opposition parties have called for an explanation from the Government into the decision to relocate the event from Dublin to Lisbon.

Fianna Fáil spokesman on tourism Timmy Dooley said it was totally unacceptable that the Government failed to deal with repeated requests over concerns raised by the Web Summit organisers.

Deputy Dooley said: "The loss of this conference is a major blow. It is more than the direct loss of revenue from delegates - we had a homemade and priceless event that marketed Ireland throughout the world as a centre for new industries. 

“It was also an unparalleled opportunity for young Irish entrepreneurs to interact with the most senior and most serious business leaders in their sector in the world.

"And we lost it to a country that we now know just made more of an effort,” he added.

Renua Ireland leader Lucinda Creighton said the Coalition needed to learn that developing a cohesive, effective jobs policy was far more complex than "gallivanting" in front of the camera at carefully staged photo shoots.

Yesterday, Taoiseach Enda Kenny said the Government had always been supportive of the Web Summit and described the decision to relocate as a commercial one.

He said they were "quite entitled to make that decision" and he said he wished them every success in Lisbon.

Chief Executive of the Dublin Chamber of Commerce Gina Quinn said there has been a failure in long-term planning for Dublin, including investment in infrastructure, which is now having a negative impact.

Speaking on RTÉ’s Morning Ireland, Ms Quinn said there is not enough money being spent on infrastructure in Dublin.

"Well I think that we have in Dublin, failed to actually put together effective long-term planning for the region. We have had, everybody knows, a long period of recession," she said.

"What that has meant is that we have not had building of hotels, of office accommodation, of housing. And all of those things now are coming back to bite us as the economy is picking back up."

She added that Ireland and Dublin's reputation as a tech hub that was nurtured and developed by having the Web Summit in Dublin must be examined, along with the kind of investment the country is willing to make in these areas.

Ms Quinn said it is a shame that the summit is not going to be held in Ireland and that Ireland should be doing everything it can to do to bring it back after the event has finished its period in Lisbon.