For example, microelectronic devices, based on conventional silicon technology, continue to decrease in size each year, resulting in the production of ever more powerful computers and processors. Within the next two decades this technology will approach theoretical limits as the device dimensions approach the atomic scale. New breakthrough technologies such as molecular electronics based on new materials and fabrication techniques with new device concepts will be required to continue the progress in electronics technology experienced in the 50 years since the invention of the transistor. These advances will be of profound significance to the microelectronics and semiconductor industries, industries which have had a profound impact on our economic fortunes in recent times. Without the efforts of an institution such as Science Foundation Ireland, this country and its economy may well fall behind in the global race for advancement.