A review of EU funding for industry has brought an additional £27.75 million for research activities carried out by Irish companies. The industry monitoring committee, which oversees the Operational Programme for Industrial Development 1994-1999, met yesterday near Dundalk, Co Louth.

It agreed increased support for research via the programme, which targets all aspects of industrial development.

The increase was welcomed yesterday by the Minister of State for Science, Technology and Commerce, Mr Michael Smith, who said that the original £105 million allocation, disbursed under the Measure 1 scheme, had already been committed long before the end of the programme in 1999. The extra money would be made available on a competitive basis, he said, marking a "radical departure from the earlier Measure 1 scheme".

An exception would, however, be made in the case of smaller companies, with special measures being introduced to encourage their involvement.

The Industry Research and Development Group, which represents manufacturing companies here engaged in research, also welcomed the increased budget.