AN AGREEMENT between Silicon Valley and Dublin cleantech organisations will create jobs in both cities, participants have said.

Signed yesterday, representatives from the Green Way, a Dublin cleantech cluster and the San José-based Environmental Business Cluster, say the agreement will increase RD, business development, commercialisation and investment opportunities for Irish and San José companies looking to access each other’s markets.

Cleantech refers to industries and companies involved in sustainable development, ecological innovation and resource efficiency.

Founded in 2010 and comprising private and public companies and academic institutions in the Dublin region, the Green Way encourages green economic growth. The sector in Ireland employs 18,750 people and is worth more than €3 billion to the economy. This employment figure is set to rise to 29,000 by 2015.

Speaking about the agreement, Green Way chief executive Tony Boyle said it was an example of the body’s mission to “create jobs and international trade opportunities for Dublin cleantech companies, as well as attracting the next generation of cleantech companies from the Valley into Ireland”.

Mr Boyle said the linkage with the San José cluster, which also includes the largest and most successful private incubator programme for cleantech companies in the US, would enhance Ireland’s international standing in the sector.

The executive director of the Environmental Business Cluster, Melinda Richter, said the agreement would provide Silicon Valley cleantech companies with access to EU markets.

Leading the Dublin delegation to San José, Dublin lord mayor Andrew Montague described the agreement as “fundamental to our objective to make Dublin the cleantech capital of Europe”.

Mr Montague said Dublin’s long-standing relationship with San José had been key to the growth of Ireland’s ICT sector.