A new business centre aimed at helping SMEs engage with the city's universities is to be built at Innovation Birmingham Campus (IBC).
The project has been awarded £2.49 million from the Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP) and will built next to Faraday Wharf, possibly to the rear or on its car park.
A planning application will be lodged this summer and it is due to open in 2016.
It is the second of five new developments totalling £45 million planned on Innovation Birmingham Campus next to Aston University.
The first of which, iCentrum, is a 41,700 sq ft hub for technology companies which it is hoped will create 400 jobs when it opens next spring.
The universities centre will be designed by AHR Architects and delivered by Stourport-based Thomas Vale Construction which is also working on iCentrum.
It will feature video conferencing, offices, training and meeting space, co-working and collaboration space.
IBC said it would be designed and operated to promote a much greater interaction between start-ups and SMEs and the city's universities.
Andy Street, chairman of the GBSLEP, said: "Having a dedicated, neutral centre where SMEs and researchers, staff and students from the five local universities can meet and collaborate on projects will be a new asset for the city region.
"Innovation Birmingham will work with Aston University, the University of Birmingham, Birmingham City University, Newman University and University College Birmingham to drive activity that will resonate with SMEs.
"The technology and digital sector is one of the GBSLEP's target growth areas and this £2.94m Local Growth Fund grant award will lead to many new relationships and projects being forged year on year, which will contribute to the regional economy."
Dr David Hardman, chief executive of Innovation Birmingham, added: "Having a dedicated centre for university engagement on the Innovation Birmingham Campus will give the city region a catalyst facility, creating a novel edge in how we can help to support start-ups and growing SME businesses.
"While universities already run a range of initiatives to engage with business, we will co-ordinate a bespoke programme that will enable SMEs that have never thought of collaborating with a university to see how it could add value."
