Up to €5m is being made available for investment in higher education.
The funding boost aims to highlight the importance of innovation for the education system.
The Education Minister Richard Bruton and Junior Minister for Higher Education Mary Mitchell O’Connor have launched the new Higher Education and Innovation Fund.
This means that €5m will be available for investment this year.
The fund is part of the extra €100m which the government has been pumping into higher education since 2016.
Funding will be allocated on a competitive basis with the best proposals being awarded the money.
Minister Bruton says he is prioritising four key areas for funding, which include improving student learning outcomes, flexible learning opportunities, student progression, and the recognition of prior learning.