Ireland's microelectronics design sector, worth $500 million (€532 million) to the Irish economy, has the potential to double in value within the next five years, according the Microelectronics Industry Design Association Ireland (MIDAS), a new organisation introduced yesterday by the Tanaiste, Ms Harney.

MIDAS brings together indigenous and multinational microelectronics design companies and leading academic institutions to identify the current and future needs of the industry.