Agencies such as IDA Ireland and Enterprise Ireland have helped to give Ireland a global reputation as a major competitor for ICT industrial investment. By building a globally renowned research base focusing on the fields that underpin ICT, the economy can build on the relationship it has already formed with this industry. We can play a competitive role in defining and shaping economic activity and technological advancements worldwide. This represents an enormous opportunity but also a threat, as if we miss it, we will face the possibility of being left behind as the 21st century progresses. Ireland's research institutions are involved in most of the key research areas in ICT, including some engaged in globally distinguished research. Ireland must focus on developing ICT research programmes in areas that can compete on a global scale. This will require the formation of outstanding research centres, as well as the recruitment and development of critical masses of research talent.