Communications Minister Dermot Ahern is to launch a new initiative to develop a 'digital corridor' for the East Border region. The 'Midas' project hopes to create the necessary infrastructure and supports to allow for the growth of small and medium creative and digital media enterprises in the region.

The project is a joint initiative of Dundalk Institute of Technology, the University of Ulster and Dream Ireland Ltd Belfast. It has received funding from the private sector as well as a grant of €1.7 million from the EU.

The Midas initiative aims to develop economic capacity in the East Border region and to promote entrepreneurship. Another element of the project is the development of a state of the art digital animation studio at Dundalk Institute of Technology.

The business areas which the project will focus on include animation, 3D modelling, music technology and digital design and production. It is hoped that the project will increase cross border co-operation and lead to quality job creation in the East Border region.