A plan to create an innovation hub in Dublin's Silicon Docks has got the backing of cabinet.
A report has recommended government investment of €150 million to help fund the €1 billion initiative, which includes a new Trinity College campus.
The Grand Canal Innovation District will bring together academic researchers, start-ups and multinational companies.
Trinity College's Diarmuid O'Brien said there will also be benefits for locals: "There will be new employment created there and second, as Trinity begins to expand its presence in that part of the city, there'll be new educational programmes and initiatives that would be put in place, specifically targeted for that community."