Some €7 million of investment capital has been allocated to a support fund for newly established and start-up companies in the Border, Midland and Western Region.
Finance from the project is coming equally from Enterprise Ireland and Enterprise Equity Venture Capital Group, with each contributing €3.5 million.
According to the Tanaiste, Ms Harney, the fund will provide "a considerable boost to the Government's policy of regional economic development and will contribute to the creation of new enterprises and strengthening of existing enterprises in the BMW region."
Enterprise Equity's Galway office will handle the fund which will be invested in units of €500,000 primarily into new technology enterprises.