More than 100 job placements will be created for unemployed graduates with technology or science qualifications to encourage people to stay in the industry.
The "class of 2002" initiative, which was launched yesterday by the lobby group ICT Ireland, recognises that graduates who qualified in 2002 are finding it particularly difficult to get jobs.
The project will offer more than 100 placements for people who hold a bachelor or master's degree in engineering or computer science. Each placement will last at least six months at a technology firm in the Republic.
Mr Peter Langford, president of the Institution of Engineers in Ireland, said the project should go some way to address the concerns of students considering technology-related courses at third level. It illustrated the industry's long-term commitment to investing in graduates, he added.
Mr Tim McCarthy, chairman of ICT Ireland's education group, said the initiative would provide graduates with a unique opportunity to develop their skills in a "real" work environment.
Mr McCarthy, who is an executive at the Republic's largest technology employer Dell, said the project recognised the growing concern in the technology sector of a declining Irish skills base.
A minimum of €8,000 will be paid to each graduate for a six- month placement. Graduates can apply directly to the 20 or so firms which are taking part in the project. These include AOL Curram Software, Eircom, Ericsson, HP and Intel.
The majority of placements will begin in September 2003 but some can begin immediately.
