80 jobs created by €5m Government investment in internet company

The introduction of a new high-speed telecoms network it to create 80 jobs, it was announced today.

The Government is to invest €5m in the project which aims to utilise technology invented by Irish researchers and developed by Irish company Intune Networks.

They have developed low-energy, high-speed, high-quality network for the transfer of data that could replace the thousands of silicon chips used in internet switches today.

The Exemplar Test Bed will utilise the technology invented in Ireland by two graduate students from UCD and developed by Intune Networks.

This technology, known as Optical Packet Switch and Transport, can eliminate costly bottlenecks of data on networks. The reductions in the amount of energy they use make this technology an attractive prospect for major international companies.

The test-bed has 64 granted patents which secure the technology and which ensure that Ireland is the first country in the world to offer such a facility. The test-bed is 100% owned by the Government.

The Test-bed will be build in Parkwest Business Park in Dublin and will be open for business, on an open-access basis, in July of this year.

Minister for Communications, Energy and Natural Resources Eamon Ryan said: "Today we are investing in the new economy.

"This technology was invented in Irish universities and developed by an Irish company. It has the potential to revolutionise the internet, transferring data faster and in higher quality than previous technology.

"Their invention also vastly reduces the associated energy costs. It represents a very exciting prospect to test the applications and services of the future internet."