The Taoiseach Micheál Martin is set to officially open the country's first co-located university enterprise quarter at the former Waterford Crystal manufacturing site.
The new 'Glassworks' site is located beside academic and research facilities belonging to South East Technological University (SETU).
Those behind the initiative have said locating business beside these SETU facilities will drive employment, research and education across the southeast region.
The 80,000 sq/ft 'Building One' on the campus will be officially opened by the Taoiseach this morning.
The €43m building will eventually house 800 employees, almost two decades after the closure of the landmark Waterford Crystal facility.
The overall 37-acre site, located on the Cork Road on the outskirts of Waterford city, is expected to eventually have capacity for up to 6,000 employees.
The 'Glassworks' campus is said to take inspiration from similar successful models, such as the University of Nottingham's Innovation Park and the Cortex innovation district in St Louis, Missouri.
The first commercial building on the site has been developed through a joint-venture formed between the Ireland Strategic Investment Fund (ISIF) and Frisby, a Waterford-based developer.
It is expected that more than half of the building will be let by next month.
Clinical eye care service providers, Veonet Ireland are to open a day-unit in the iconic former Waterford Crystal showrooms space.
It comes as SETU is at the planning stage for a new course in optometry.
Frank Doheny, CEO at Veonet Ireland said: "As an international business, we engage in clinical research and surgical training, and it is very important that we are embedded into the optometry ecosystem.
"We are in discussions with SETU on how we can partner in the areas of training and research.
"Glassworks will be a space that links education, research, industry and clinical practice.
"As an example, we often have to hire clinical optometrists from the UK, and we hope to offer our network to assist in training Irish students in the discipline," Mr Doheny added.
Planning permission has also been granted for a 582-student bed development on lands adjacent to the site.
SETU President, Professor Veronica Campbell has said 'Glassworks' will be a "game changer" for the southeast region.
Prof Campbell said: "Designed to transform collaboration between academia and enterprise, 'Glassworks' will significantly elevate the region's innovation capability, creating the space, energy, and opportunity for partnership on a scale not previously possible.
"By bringing students, researchers, entrepreneurs, and multi-nationals together in one place, the campus will strengthen the south east's already vibrant innovation network and provide a powerful launch pad for the next generation of ground-breaking ideas to be realised."
Director at developer Frisby, Noel Frisby Jnr has said that 'Glassworks' is a place where research, creativity, and business ambition can thrive and economy in the region can continue to grow.
Meanwhile, Sarah Hickey, Senior Investment Director at ISIF, said: "The opening of Building One will strengthen the capacity of Waterford and the wider region for high-value jobs, research and collaboration for many years to come.
"Building One reflects ISIF's ability to invest commercially whilst supporting long-term regional development.
"Its completion contributes to the development of a university-enterprise eco-system that will support innovation and employment across the south-east," Ms Hickey said.
Those behind the initiative have said the site now offers the potential for the future development of further purpose-built buildings to accommodate businesses, researchers and students.
