The London Institute, Royal College of Art and Wimbledon School of Art have formed a consortium to set up a learning and teaching centre, opening in August.
The consortium is giving Pounds 80,000 initially to support its staff and student training and encourage new teaching methods. But it intends to expand and become profit-making by running courses for other institutions.
The centre will be a limited company. "This ensures we will be operating within funding council guidelines," said Roger Breakwell, head of the institute's Camberwell School of Arts.
The centre's programmes and qualifications will be accredited by the Institute of Learning and Teaching.