How the money will be spent:The new science strategy will fund a wider range of research than in the past. This should satisfy those who have complained that the research agenda has been too narrow.
All existing research programmes, including the mainstream Science Foundation Ireland and the Higher Education Authority's programme for research in third level institutions, will continue their existing roles. They provide different forms of funding in support of individual researchers and third level institutions.
Funding bodies such as the Health Research Board and the two Irish councils for research in the sciences and in the humanities will also continue to play their existing parts.
Science Foundation Ireland will remain committed to funding research in the two broad areas that are part of its remit, biotechnology and information and communications technology.
The research agenda generally will be broadened to allow more research to be conducted by public sector laboratories in five key areas - agriculture and food, health, the environment, marine and energy.
These areas will allow bodies such as Teagasc and the Environmental Protection Agency to increase their already substantial research activities, while linking up with third level colleges.
There will also be more money for cross-Border and international research under the strategy. There will be significantly higher levels of support for increasing the numbers of indigenous and multinational companies involved in research and development.
The goal is to have at least 1,050 companies conducting at least some research by 2013 and 100 companies with a substantial involvement in research and development.
The strategy also details plans to develop student interest in the sciences from primary school to third level. More money will go into programmes such as that organised by the Discovery Science and Engineering programme to encourage an interest in the sciences at primary level and carry this through to increased numbers taking science and maths at Leaving Cert and third level.