Enterprise Ireland invested over €48 million in Irish start-up businesses last year.
The government agency supported 125 start-ups during 2020, with half of the companies based outside Dublin.
Cyber-security, digital health and agri-tech were among some of the key sectors supported.
Tánaiste Leo Varadkar commended the entrepreneurs who started up businesses during an 'incredibly difficult year'.
He said: “I have nothing but admiration for the many entrepreneurs across the country who have been brave enough to start up new businesses during the pandemic.
"I have seen countless examples all across the country of business owners overcoming adversity and demonstrating the kind of ingenuity, adaptability and resilience that entrepreneurs are known for."
Last year's funding included 80 High Potential Start-Up (HPSU) investments - referring to start-up businesses with the potential to create 10 jobs and €1 million in sales within three to four years.
There was also investment approved for 38 women-led start-up companies, with Enterprise Ireland saying that's a key focus of their Women in Business action plan.
Enterprise Ireland's Jenny Melia said: “The action plan, which was launched last year, aims to increase the participation of women in entrepreneurship and business leadership.
"The class of 2020 are great role models for new founders and we look forward to working closely with them to help fulfil their potential and to create strong and sustainable export businesses.”
It comes after Enterprise Ireland firms saw the highest ever sales to Eurozone and North America during 2019.
This year's Enterprise Ireland start-up showcase will take place virtually on Wednesday 24th February, and will be followed by one-to-one virtual investor meetings.