The Tontine, which opened on Wednesday, will offer accommodation and support to help tech enterprises make the transition from promising start-ups to flourishing businesses.
It will focus on companies with links to the city’s four universities and encourage cross-fertilisation between growing firms, major multinationals and research programmes based in and around the Clyde Valley.
Council bosses and Scottish Enterprise hope the centre will increase the number of start-up businesses in the region that survive beyond their crucial third and fourth years of trading.
The Tontine is the first completed project paid for by the Glasgow Region City Deal, a £1.13bn infrastructure funding agreement between the Westminster and Holyrood Governments and eight local authorities.
The Victorian building in the Trongate stands on the site of a workshop used by James Watt while he was employed as an instrument maker at the University of Glasgow in the 1750s
Over the next five years, it is hoped around 130 businesses will use the Tontine, with each expected to add at least four new staff members during their stay in the building.
The result will be the creation of more than 530 new jobs and a £50m injection into the city economy.
Find out how you can grow your career in Scotland.