The new plans will see the Irish Research Council (IRC) and Science Foundation Ireland (SFI) combined into one body.

The new agency will “drive world class research and innovation in Ireland and work collaboratively with other research funders and enterprise, both in Ireland and internationally,” according to a government statement.

“The new research and innovation agency will drive research and innovation excellence in all disciplines across the spectrum of Arts, Engineering, Humanities, Mathematics, Science, Social Sciences, Technology and others,” Minister Harris said.

“This is essential in order to ensure that Ireland has a resilient and agile research base that can make a substantive impact on national challenges and opportunities,” he added.

For the purposes of the legislation, the unifying name “Research and Innovation Ireland” will be used. However, this is a working title only and the Department said it will work with stakeholders on the selection of a final name which is deemed appropriate in a national and international context that is inclusive of all disciplines.

The agency will also play an important role in underpinning evidence for policy and supporting Government Departments.

“The Government’s decision to create and invest in one unified research funding agency is an extraordinary opportunity for research and the research community,” said Professor Philip Nolan, Director General of SFI.

Prior to the establishment of the new agency, business will continue as usual in IRC and SFI with no interruption to ongoing services and funding programmes.