Known as Technological University Dublin (TU Dublin), the facility will be located on three campuses at Grangegorman, Blanchardstown and Tallaght.
The project has been spearheaded by the TU4Dublin consortium, which comprises Dublin Institute of Technology, Institute of Technology Blanchardstown and Institute of Technology Tallaght.
The announcement marks the completion of a comprehensive assessment process carried out by an expert International Advisory Panel to assess that TU4Dublin met the detailed eligibility criteria set out in the legislation to qualify as a Technological University.
The creation of Technological Universities, led by Minister Mary Mitchell O'Connor, is part of the Government's plan to drive regional economic growth and development under Ireland Project 2040 and to make Ireland a leading education and training service in Europe by 2026.
The Government has also revealed further funding of €4.4 million will be allocated towards the continuing development of TU Dublin, bringing the total funding contributed by the Exchequer to almost €9.3m.
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Speaking at the launch, Taoiseach Leo Varadkar said: "This is an historic day for the future of higher education in Ireland. Project Ireland 2040 prioritises the expansion and consolidation of Higher Education facilities, to boost economic development across the country. Technological universities are central to delivering on this core objective and will stimulate a more balanced growth of population and employment across Ireland.
"The ambition is simple: to drive regional development and provide more opportunities for individuals, enterprise and the community. Making higher education accessible to all is the best way of making Ireland a country of equal opportunities.
"Dublin's new Technical University will promote an entrepreneurial ethos and provide accessible opportunities to those who are economically or socially disadvantaged. It will be the only university in Ireland offering programmes from Level 6 to Level 10, from apprenticeships to doctorates, serving students from right across Dublin and the wider region."
Education Minister Richard Bruton added: "TU Dublin has the potential to be ground-breaking by providing a new, flexible teaching and learning framework to students that is informed by research and offers opportunities for students to pursue diverse programmes across the range of levels on the National Framework of Qualifications (NFQ).
"This is an opportunity to build a new higher education system that is inclusive and reflects the educational demands and economic needs of Ireland."
A draft order is now required to be placed before the Houses of the Oireachtas for approval in the forthcoming legislative term to appoint the day in early January 2019 on which DIT, ITB and ITT shall be dissolved and the new Technological University Dublin is established.
(LM/MH)
