TUs around the country are in line to benefit from funding of €84m.
TUS Athlone is in line to receive €12 million in funding to focus on research and innovation.
€84 million has been allocated for the Technological University sector.
TUS says the investment will be used to target research strengths, embracing regional smart specialisation, and facilitating the design of innovation strategies.
The financial support is co-funded by The Government and the EU, under TU RISE.
Minister for Further and Higher Education, Simon Harris, says:
"I am very pleased to announce, with the assistance of the European Regional Development Fund, the allocation of almost €84 million in funding to our five TUs as well as to Dundalk Institute of Technology and Dun Laoghaire Institute of Art, Design and Technology.
The Technological Universities are uniquely placed to link with local and regional enterprises, particularly Small and Medium Enterprises, to support them to turn innovation opportunities into real-world actuality.
TUs are catalysts of regional development and support the skills and employment agendas regionally and nationally. This significant research-oriented funding will further enhance their capacity in this regard, ensuring that as a nation Ireland will be recognised as a world-leader in Research and Innovation for years to come."
TUS President Professor Vincent Cunnane is welcoming the funding:
"By strengthening existing partnerships and forging fresh alliances with local business communities, TUS is pioneering a strategy centred on the Midlands and Midwest.
This strategy will encompass key regional specialisations including Advanced Manufacturing and Engineering, Biopharma, Life Sciences and Food, ICT and Creative Industries, as well as Sustainable Development, where the potential for impact is most significant."