The Minister for Enterprise, Trade and Innovation, Batt O’Keeffe has announced more than €25m in funding over the next five years to support 139 higher education researchers.

The researchers, who are based in higher education institutions, were awarded the funding under Science Foundation Ireland’s Principal Investigator Programme.

Among the "high-potential" research fields targeted by the funding are energy, environmental protection, health, agriculture and telecommunications.

Intel, Sigma Aldich, Seagate, ESB and Eirgrid are among the partner companies involved in the research projects which, it is hoped, will result in new products, services and jobs.

The foundation’s programme aims to support “strategic work in the life science, information communications technology and sustainable energy sectors.”

Minister O’Keeffe said the selected projects had “the capacity to create new jobs in the 'smart' economy because they target high-growth areas at the cutting-edge of innovation.”

The award’s focus on turning ideas into commercialised products and services is intended to meet the requirements of the Innovation Taskforce Report, which looks for capital generating prospects within individuals.

“By investing on a sustained basis in pioneering work, the Government is demonstrating our determination to support the emerging talent pool of scientists and engineers and create the jobs of tomorrow”, said Minister O’Keeffe.

The Director General of Science Foundation Ireland, Professor Frank Gannon, said the Principal Investigator Programme had been “the cornerstone of the agency’s work agenda.

“The track record shows that by selecting excellent researchers we can develop key partnerships with leading industries in Ireland, as well as producing high-quality publications and highly skilled workers,” he added.