The project is being established in memory of the late Hank Krabbe, the founding managing director of Analog Devices in Limerick.

ADI has both research & development facilities as well as a manufacturing operation in Limerick.

Ray Stata, co-founder and chairman of Analog Devices, explained that the investment was to encourage young people to select electronic engineering as a rewarding career choice. "We believe this scholarship programme will act as an incentive to young people to consider studying engineering and also hope that this possibility of securing the Hank Krabbe medal will help set new standards in academic excellence."

Professor Don Barry, president of the University of Limerick, added: "We continually strive to improve and enhance the education that our students can achieve here. Scholarships of this nature can have a significant impact on the student body and we are very grateful for ADI's continued support and long term friendship and association with our institution."

The scholarship will be awarded to the top student after the first year in electronic engineering annually for the next four years, while the Hank Krabbe medal will be accompanied by an award of 5,000 euros (about $7,400) and a payment of 7000 euros (about $10,000), which will be made prior to beginning years two, three and four at the university.

The scholarship at UL builds on existing commitments by ADI to the BT Young Scientist and Technology Exhibition and on the Eamon Dillon bursary that is up and running with CBS in Limerick.