Twenty-nine projects around the country have secured funding under the Government's Disruptive Technologies fund.
Among those to receive part of the €95 million injection is a Cork-based project which hopes to use artificial intelligence to develop drones which could aid the detection of drug smuggling.
The investment, which will be delivered over the next three years, covers projects across the areas of science, medical devises, ICT, artificial intelligence, manufacturing, and environmental sustainability.
The largest figure awarded, €7 million, will go to a Galway-based project involving Relevium Medical Ltd, HiTech Health Ltd and NUIG, working on a regenerative treatment for knee osteoarthritis using a hydrogel-based therapeutic.
The 29 projects are based across eight counties, each involving collaboration of between three and eight partners, with 111 organisations involved overall.
Of the projects receiving funding as part of today's announcement, 18 are divided evenly between Galway and Dublin. Clare, Cork, Westmeath, Kildare and Limerick each have two projects, while Meath has one.
Some of the other successful projects include work to develop an adhesive to stick broken bone tissue together to allow for faster healing after fractures, in addition to two projects working to improve detection and treatments for various cancers.
Today's announcement is part of the wider €500 million Disruptive Technologies Innovation Fund (DTIF) established under the National Development Plan (NDP) in 2018.