The Institute was founded in 1970 as Regional Technical College, Waterford. Once founded, the regional technical college grew very quickly as a result of the obviously strong regional need for tertiary education. In 1997 the college adopted its present name by order of the Minister for Education Niamh Bhreathnach, with Dublin Institute of Technology being the only other institution with the "institute of technology" title at the time in Ireland. Following a change of government and enormous political pressure on behalf of other regional technical colleges, especially Cork Regional Technical College, all other regional technical colleges were renamed similarly by Minister for Education Micheál Martin.