The Taoiseach has appointed a taskforce to support the development of the so-called Smart Economy - the Government's economic renewal plan that was launched last December.
Brian Cowen said the panel would advise the Government on how best to present Ireland as an international innovation hub.
He also said it was important to restructure Ireland's economy to take advantage of the global upturn when it comes.
Chaired by Dermot McCarthy at the Department of the Taoiseach, the panel's other members include senior academics and bosses at the likes of Intel, HP, Cisco, KPMG and Johnson & Johnson.
It will set out to increase the commercialisation of research and development; speed up the link-up of private and public organisations, and to identify policy measures that are needed to support the concept