The Government today launched a E7m fund it says will help academics turn their research into jobs by bringing new products and services to the market.

Minister for Enterprise, Trade and Innovation, Batt O'Keeffe, today urged academic researchers to apply for support under the Commercialisation Fund which will be administered by Enterprise Ireland.

His call follows the recent announcement by the Taoiseach of Cycle Five of the Programme for Research in Third Level Institutions - the Government's investment plan for physical infrastructure and research projects in our higher education institutions between 2011 and 2016.

The Enterprise Ireland Commercialisation Fund will bring a steady pipeline of academic activity from the research to the retail stages, the Minister said.

It will help new technology-based companies to contribute to the Government's job creation targets and create 'smart' sustainable jobs for this generation and those to come.

"The Government is investing in human capital and in our capacity to turn ideas into jobs by bringing research to the marketplace as commercial products and services. We want to support researchers across all sectors but particularly those working on ideas and inventions that could treat and cure diseases, improve transport and communications networks, and create new digital products and services to replace outdated technologies," he added.