The Temple Quarter Campus will reside in the Temple Quarter Enterprise Zone, with plans in place for the facility to open by the 2021/2022 academic year.
The development will be built near Bristol Temple Meads train station on the derelict former sorting office site.
Features include a Digital Innovation Hub, a 'business school of the future', a student residential village and Engine Shed 2 – an expansion of the successful Engine Shed enterprise hub which houses the award-winning SETsquared business incubator.
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Business and Energy Secretary Greg Clark said: "Our forthcoming Industrial Strategy is committed to creating highly skilled and versatile workforces in all areas of the UK.
"The development of this exceptional new campus for the University of Bristol is a brilliant example of this strategy in action, with government, academia and industry collaborating to deliver future-focused training that will build on Bristol's growing reputation as a digital and tech cluster."
Professor Hugh Brady, Vice-Chancellor and President of the University of Bristol, added: "This is an historic moment for the University of Bristol and for the city-region.
"This new initiative is, I believe, truly unique: a dynamic partnership between the University, industry and the city, located in an enterprise zone and major transport hub and offering the opportunity to position Bristol as a global leader in digital and educational innovation."
Image: Derelict site of the former Royal Mail Sorting Office at Cattle Market Road, near Bristol Temple Meads
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