€50m is to be invested in the expansion of a national research centre focused on the development of technology for the analysis, personalisation and delivery of digital content.
The ADAPT centre is to receive just under half of its funding from the Department of Jobs through Science Foundation Ireland, with the balance of €26m coming from 19 industry partners.
The centre will see 200 highly skilled postgraduate students trained over the next six years, and those behind it predict the investment will lead to the setting up of spin-out companies which themselves will create 300 highly skilled jobs.
The new centre is to be led from Trinity College Dublin with researchers from Dublin City University, University College Dublin and DIT also involved.
ADAPT is the latest of 12 world class research centres being established here by SFI to launch.
The centre will carry out research into how sense, structure and value can be put on the vast amounts of digital content that is being generated every day.
According to ADAPT Director Vincent Wade, the volume, variety and fragmentation of this content is overwhelming businesses and people.
ADAPT will build tools to manage the content in areas like global content streams, translation services, personalisation of content delivery, social media analysis and informal and formal learning.
Prior to winning this fresh funding and status, the centre had already led to the creation of seven spin out companies.
Its industry partners include household names in the world of technology, including PayPal, Huawei, Intel, Microsoft, Aol and Cisco.
The launch has been welcomed by Minister for Skills, Research and Innovation Damien English who said in a statement that it would assist in powering an innovative and enterprising economy.