Telephony and communications giant BT has announced substantial new funding for Ireland's annual Young Scientist and Technology Exhibition, with guaranteed backing for the next three years. It has committed support worth €1.5 million that will take the event to 2008.
The exhibition leads a surprisingly hand-to-mouth existence, despite now being in its 42nd year and ranking as one of the largest of its kind in the world.
The high cost involved in staging the event has meant that corporate backers usually commit themselves to sponsorship year on year.
The funding commitment means the uncertainties are gone for the time being. It also means the organisers can offer bigger prizes and more support for schools and students.
The event will now be known as the BT Young Scientist & Technology Exhibition. The top young scientist individual or group will receive €5,000 in 2006 with €2,000 for the best individual or group not receiving the first-place award. The runners-up group and individual prizes are worth €1,000 each.
The extra funding means student participation will now increase by 20 stands, with 500 student projects on display at the RDS in 2006.
BT plans to launch a grant scheme to help fund schools that incur accommodation costs while attending the exhibition. The company is also planning to subsidise lunches for participating students to encourage them to choose healthy options.
"This is the first young scientist competition under the BT brand and this large financial commitment underscores our commitment to education in Ireland," the company's chief operations officer, Mike Maloney, said in a statement.
The exhibition began in 1963 with the first event held in the Mansion House. Aer Lingus became the main sponsor, supporting the exhibition into the 1990s when Esat became the main sponsor.