Science Foundation Ireland (SFI) invested almost €140 million in research last year in a bid to fulfil the Government's commitment to building a world-class scientific research community.

The money, which was awarded to researchers and research projects in the fields of information and communications technology (ICT), biotechnology and the Research Frontiers Programme, is part of the Government's new Strategy for Science, Technology and Innovation announced last year.

As part of the programme, the Government aims to increase significantly the funding available for research over the next seven years, with the aim of accelerating the initiatives put in place during the past six years. Its aim is to help Ireland achieve the goal of becoming a global knowledge-based economy.

Minister for Enterprise Micheál Martin welcomed the investment, saying he intends to ensure Ireland continues to grow its research capabilities in the future.

"Ireland continues to become increasingly renowned internationally for the excellence of its scientific research, and is generating and using new knowledge for economic and social progress," he said.

SFI now supports more than 1,400 researchers throughout Ireland and granted a total of 396 awards during 2006.

Its investments include a €13.7 million contribution to GlaxoSmithKline's research project into gastrointestinal diseases at UCC; a €7.84 million investment in two mathematics research projects at UCD and the University of Limerick aimed at encouraging mathematicians to work more closely with researchers from industry, finance, economics, engineering and other academic disciplines; and an investment of €24 million in funding awards to 158 researchers spread across 11 third-level institutions under the Research Frontiers Programme.