Up to 45 jobs could be created in the North East by an investment of over €2.3 million aimed at developing new media companies.
Minister for Communications, Mr Dermot Ahern
The Minister for Communications, Mr Ahern, officially launched the Midas Project at the Dundalk Institute of Technology today.
The International Fund for Ireland contributed over €300,000 to the project which is aimed at assisting small and medium enterprises (SMEs) on both sides of the border involved in the technological side of the arts.
The funding will support companies projects in areas such as film and video technology, animation, 3-D modelling, computer games, music technology and digital design.
The project is a joint initiative by the Dundalk Institute of Technology, University of Ulster, and Dream Ireland Ltd.
The Dundalk Institute of Technology will be the focus for the project through the development of a digital and animation studio. It will also provide teaching, research and enterprise support.
Twenty firms will be recruited to the scheme and ten new companies will be created.