The Technology Entrepreneurship Centre was designed by architect Bond Bryan and echoes the form of a wheel reflecting the site’s location next to the old Raleigh bicycle factory.

Building work on the £5m project is expected to start in the next month with the project expected to be completed by next summer.

The TEC building will be the latest addition to the University Innovation Park at Jubilee Campus and forms the basis of the University’s successful application to be one of the first University Enterprise Zones in the country.

It will offer a diverse mix of spaces, from large open plan areas to more cellular offices and specialist practical zones.

Arup is both services and structural engineer with Thornton Firkin acting as the project manager and Turner & Townsend the cost manager.

Innovation Park operations director Bob Scott said: “This will create high-value jobs in technology businesses, linking with university technology.

“It could keep young student entrepreneurs in the city, developing their own businesses rather than going elsewhere.”