Minister for Education Mary Hanafin has said €28 million will be invested in research equipment for 24 third-level colleges.
The funding comes after a recent Higher Education Authority/Forfás review which identified shortfalls in research equipment in colleges and universities.
In addition, the level of funding allocated to each of the institutions will depend on the number of research post graduate students in each college.
Ms Hanafin said: "This funding is targeted at replacement, updating and renewal of the research equipment in our higher education institutions.
"The funding available for each institution will address the need for small and medium sized items of equipment whilst very large equipment might be obtained through the programme for research in third level institutions," she said.
The scheme will allow researchers access to equipment that would enhance their abilities to "perform highly competitive research", she said.
The biggest beneficiaries are Trinity College and University College Dublin, which were allocated €6,228,000 and €6,086,000 respectively.
University College Cork received €3 million, while the University of Limerick and NUI Galway each received some € 2 million.
Agencies that support science research including Enterprise Ireland, the HEA and Science Foundation Ireland had called for more funding for equipment.