The MRI was funded by means of a donation from the late Dr Tony Ryan in 1993, which was used to build a state-of-the-art Marine Science building in a prominent location on the NUI Galway campus. Matching funding from the European Union's STRIDE Regional Development programme was obtained to fit out the building and to purchase equipment. Marine Science was also funded under the Irish Higher Education Authority's Programme for Research in Third-Level Institutions (PRTLI) in 2001-2004 (Cycle 2) and 2002-2006 (Cycle 3). Cycle 3 funding amounted to €19.3 million and was used partly to fund a much-needed Annexe which includes a larger Seminar Room and a larger Teaching Laboratory and additional laboratories and offices.
