A new cluster of cyber-security businesses is to be created here.
Supported by IDA Ireland, the initiative will be called Cyber Ireland and will be driven by the Cork Institute of Technology.
The project will build on Ireland’s success to date in attracting in a large number of large and small cyber-security firms as well as developing indigenous companies in the sector.
Johnson Controls International, Dell EMC, IBM, McAfee, McKesson and Trend Micro are among the industry backers of the plan.
According to the IDA the new cluster will collectively represent the needs of the cyber security sector here, which employs 6,000 people.
In particular it will focus on skills needs, research and the development of a national cyber-security community connecting industry, academia and government.
"For Cyber Ireland to be successful, it needs to be industry-driven, supported by third level education and Government," said Dr Eoin Byrne, Senior Researcher at CIT.
"Without the co-operation of these three pillars, the cluster cannot reach its full potential. Industry must be at the core of the cluster, which needs to be championed by passionate and dedicated leaders."
CIT will host a number of workshops in Cork, Dublin and Galway to help enable the setting up of the cluster from the 18th to 20th of February next year.
The initiative has been welcomed by the government.
Meanwhile, the IDA has also revealed that network intelligence company, ThousandEyes, is to open a sales and services office in Dublin.
The business provides visibility into the Internet, cloud and every network that companies run on.
"In addition to our existing presence in London, we are excited to build a key hub for ThousandEyes in Dublin and leverage the infrastructure and talent pool in Ireland in order to scale our broader EMEA operations," said Mohit Lad, co-founder and CEO of ThousandEyes.