IBM has announced the establishment of a European Venture Capital Centre and an Innovation Centre on its campus in Mulhuddart, Co Dublin.

The European Venture Capital Centre will enable IBM to build stronger links with European VCs and start-up companies to provide the company with an insight into emerging technologies and markets. Start-ups can use it to gain access to IBM technologies, market information as well as its global network of business partners and customers. It will be one of three IBM venture capital centres worldwide.

The innovation centre will support Irish software companies in receiving assistance from IBM experts to develop and test new products. IBM said it was particularly interested in working with companies with products for managing risk and compliance, data centre automation and emerging web technologies.

Nick Donofrio, IBM's executive vice-president for Innovation and Technology, said that Ireland continues to be "top of the list" for locations in which IBM plans to invest.

He also said IBM was an "acquisitive company" and there was the possibility that it may purchase some of the start-up companies it works with.

The new centres are being funded as part of the €46 million investment in its Irish operations which IBM announced last July.