Companies supported by the state-funded National Digital Research Centre in Dublin are expected to create 70 new jobs over the next six months.
Publishing its annual report today NDRC, which is funded by the Department of Communications and partners with universities to commercialise their research, said the companies it supports currently employ 250 people.
The report shows 70 firms have emerged from the programme over the past four year.
Mutebutton is one of the firms that has benefited from the support of the National Digital Research Centre to make the jump from university project to fully-fledged commercial venture.
It is a company that developed from research at NUI Maynooth with a device that can alleviate the symptoms of the ear condition tinnitus which causes an irritating low-level hissing or buzzing sound that interferes with the hearing of sufferers.
In the past year both the level of private funding secured by NDRC-supported ventures and the market value of those companies has soared.
By the end of next year the NDRC will have drawn down the last of the €25m fund advanced by the Department of Communications to set it up in 2006.
To make a case for extending further state funds it is seen as vital that it continues its record for developing successful technology firms that go on to raise private funding and create jobs.