The Hub will be located at Teagasc's Moorepark facility outside Fermoy.
Cork East Fine Gael TD, and Minister of State at the Department of Justice, David Stanton, said: "I know that the industry is concerned about the potential impact of Brexit on agricultural trade so this funding is a vote of confidence in our agricultural industry's future.
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"Minister Creed explained that the Hub is an integral part of the Food Wise 2025 plan, which identified Research, Development and Innovation as key drivers of competitiveness in the agri-food sector. Collaboration between industry and the research community is crucial to advance research and new product innovation."
The hub will act as a business innovation network involving dairy companies, Moorepark Technology Ltd (MTL), incubator companies and public-private partnership based R&D programmes with a research focus on food processing, quality and nutrition. It will consist of up to 12 customer application suites containing office and laboratory space, so that each company can have an on-campus presence to conduct new-product development and collaborate with research.
(CD/LM)
