A new mixed-use business plant has opened in Letterkenny.

The CoLab centre, part of 20 nation-wide incubation campuses, will provide new office space to the local business community.

Enterprise Minister Mary Coughlan officially opened the new facility.

She said: "Just like the other 20 incubation centres in Ireland which between them house 230 companies and employ over 1,000 people, we look forward to seeing these technology-intensive firms grow and graduate out of the incubation centre and into the local economy, to provide well paid employment for the people of the North West region."

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Of the 12 companies in CoLab, 11 have developed high-tech software and web technology services.

Frank Ryan, Chief Executive Officer of Enterprise Ireland, said: "Supporting regional enterprise is one of Enterprise Ireland’s key priorities, now more than ever before.

"CoLab, as one of Enterprise Ireland’s campus incubators is one of our main instruments for supporting entrepreneurs to start up new companies and create high-value jobs."

CoLab brings to 21 the number of campus incubation centres funded by the Department of Enterprise, Trade and Employment.

This integrated research and incubation facility received €2.5m in funding from Enterprise Ireland and a further €1m from the Department of Education and Science.

(PR/KMcA)