King’s College London has outlined its intention to open an innovative venue for science and art collaboration in London Bridge following two capital funding awards totalling £7m.

The college intends to open a science gallery at its Guy’s Campus, a centre for biomedical research, in 2015 following confirmation of funding of £3m from the Welcome Trust and £4m from Guy’s and St Thomas’ Charity towards a funding target of £12m.

A potential site of 2,000sq m (21,530sq ft) in London Bridge, at the corner of Great Maze Pond and St Thomas Street, opposite The Shard, has been identified for a space that will include exhibition galleries, a theatre, café, courtyard and informal meeting spaces to create a new London creative space.

The gallery will host exhibitions, events, performances and festivals that bring “science, technology and health into dialogue with the arts and design in an unprecedented way, inspiring new thinking and driving innovation”.

This space will be free to visit, with a focus on 15-25 year olds as King’s College London continues in its aims to engage young people and inspire through collaborations between science and art.

King’s College London staff will work with local communities, inviting artists and researchers to contribute ideas, experiment and work together in an environment that is intended to incubate new approaches.

Science Gallery at King’s College London will be part of the Global Science Gallery Network – a network of eight Science Gallery locations developed in partnership with leading universities in urban centres worldwide by 2020.

Since opening in 2008, over 1.3m people have visited Science Gallery Dublin, ranking the gallery amongst the top ten free cultural attractions in Ireland.

Deborah Bull, director, Cultural Partnerships, King's College London, said: “Culture has a key role to play in driving innovation across the College, offering new opportunities to academics, researchers and students, widening participation and engaging a broad and more diverse public with King's.

“these two major funding awards represent a significant step towards the opening of a brand new creative space on the Guy's Campus. Science Gallery at King's - a flagship project for culture at King's - will bring together art and science in new and innovative ways, stimulating alternative perspectives and engaging a younger audience with science, health and culture.”