Progress in genomics, bioinformatics and structural biology will create major research and economic opportunities over the next 20 years. Such developments support the assertion in the technology foresight report that strategic research advantages in biotechnology will bring the State highly important long-term benefits. In the initial period from its creation to 2007, the SFI will concentrate on the research segments which have the greatest likelihood of producing significant results for Irish research and development. The potential for biotechnology related researchers in Ireland is particularly exciting given the chance they have to ally themselves uniquely with leading corporate research centres which have been the basis for strong manufacturing developments in the country. Such prospects and the likely global value of discoveries in these fields suggest how important research in fields underpinning biotechnology could be to Ireland's future. The SFI will review its focus in biotechnology and ICT regularly to seek the most promising opportunities. The SFI offers, through investments in these areas, the possibility of significantly enhancing Irish science, engineering and economic growth and becoming a vital partner in building a research system recognised and distinguished around the world for its excellence.