A research institute at Trinity College Dublin is to create 50 jobs.
The Crann nanotechnology centre has secured eight million euro funding, an increase of 60% over investment secured in 2011.
Jobs Minister Richard Bruton announced the investment and jobs boost as Crann opened its industry showcase.
"A key part of the Government's plans for jobs and growth is ensuring not only that we continue to develop good ideas through scientific research, but also crucially that we turn more of them into products, services and ultimately good jobs," he said.
Crann, which partners in research with global companies such as Intel, Merck Millipore and Hewlett Packard, has secured 20 million euro of industry funding for research for the next six years to sustain and grow the institute.
Professor John Boland, director of Crann, said: "This announcement illustrates the return on investment in scientific research in terms of the benefit to the Irish economy.
"Nanoscience is enabling the products and services of the future and Ireland's researchers are at the heart of this innovation."