Government spending on science and research programmes is to reach almost €230m this year.
The Minister for Enterprise, Trade and Employment, Mr Martin today confirmed additional funding of €10 million for Science Foundation Ireland and Enterprise Ireland programmes as he stressed the importance of innovation.
Mr Martin said it was important the money ensured that maximum potential is derived from applied research for new business establishment.
"This brings total funding for these programmes this year to over €228m," he said. "€6 million will be allocated for Enterprise Ireland industry-led initiatives to improve the capability of companies to undertake Research and Development and also for a cluster approach to collaboration research among groups of companies in key technology platform areas.
"In addition, it is proposed to allocate €1 million to Enterprise Ireland's programme to accelerate the protection and exploitation of Intellectual Property arising from the significant investment in research under the government's Research and Development programmes.
"These initiatives are in line with the government's goal of increasing industry spend in R&D."
Mr Martin said an additional €2 million would be allocated to Science Foundation Ireland's programme of Centres for Science, Engineering and Technology (CSETS) which supports researchers who build collaborative efforts linking industry to educational institutes.
"A further €1 million will be allocated to the Women in Science and Engineering Initiative which aims to promote the recruitment and retention of women in science, engineering and technology research careers through scholarships."
The Minister said the growth of research and development capability would be a critical foundation of Ireland's competitive advantage in the future.
"As a Government, we have pro-actively assisted our high-tech sector to develop and grow," he said.
"Through Enterprise Ireland linking with Third Level Institutes we aim to ensure that the maximum potential is derived from applied research - both in terms of new business establishment and technology transfer.
"Science Foundation Ireland is giving us significant additional capacity in high quality research.
"Since its establishment in 2000, SFI has awarded in the region of €400m to support more than 1,000 individuals, research teams, centres, and visiting researchers in creating the knowledge and driving the discoveries to underpin future competitiveness in key industries," he added.
PA