TecNet, a Cork-based organisation promoting co-operation among institutes of technology, has won a #1.2 million (£944,400) European Commission contract for a project on the opportunities for virtual organisations.

The project, known as TEAMwork, will have relevance for organisations wishing to embrace the emerging e-working or tele-working environment.

It will be led and co-ordinated by TecNet and involves 14 partners from seven different countries. The Irish partners are the institutes of technology in Letterkenny, Tralee and Waterford.