Ireland are set to benefit from a new ICC support programme, receiving a funding boost of $1.5 million through to 2015.
The new Targeted Assistance and Performance Programme (TAPP) includes five ICC members and is designed to develop more competitive teams at international level.
Ireland are the first cricket board to agree a TAPP deal will use the financial support to launch an elite domestic competition, create an academy and facilitate more fixtures against full member teams.
"We are extremely grateful to the ICC for instituting such a forward-thinking programme of support," Warren Deutrom, chief executive of Cricket Ireland, said. "We're delighted to be the first member to get to this stage. We have no doubt the support will help us to be even more competitive on the world stage."
ICC President Alan Isaac added: "Ireland provided an excellent submission to the ICC Board and I am sure they will do their very best to deliver those plans now that the organisation has the funding in place."
Netherlands, Scotland, West Indies and Zimbabwe will also receive support.