A topping out ceremony took place at the Technology and Innovation Centre (TIC)at Strathclyde University, which is due to be completed this year.
Professor Sir Jim McDonald, Principal and Vice Chancellor of the university, said the £89m centre, in George Street in Glasgow city centre, will "transform" the way universities, business and industry collaborate in sectors that are key to economic growth, including power and energy, health, and high-value manufacturing.
A study by consultants Biggar Economics has suggested the centre will generate £64.5m a year for the Scottish economy by 2021/22.
It is estimated the combined contribution of the university's partnerships with business and industry at £1.4 billion over the next 10 years.
Professor Smith said: "As a leading technological university, we are committed to working side-by-side with business and industry to find solutions to global challenges, accelerate the pace of research and development and deliver benefit to our students, society and the economy at large.
"The Technology and Innovation Centre will play a critical role in supporting our core industry partners, attracting innovative businesses to the city and forging new levels of collaboration between researchers, the public and private sectors."