The Digital & Creative Clyde Launchpad is open to SMEs based in the area covered by Glasgow City Council, those planning to move or set up there, and projects involving collaboration with companies already in the territory.
It offers companies up to 60% funding for innovative research and development projects up to a maximum of £60,000.
It is being run by the UK Government's Technology Strategy Board, in partnership with Creative Clyde.
David Willetts, the universities and science minister, said: "This investment will help the brightest businesses in Glasgow develop new ideas and solutions."
John Swinney, Scotland's Finance Secretary, said: "Generations of talented Glaswegians and enterprising Scots have helped cement Glasgow's global reputation for innovation and creativity. The Scottish Government recognises the importance of capitalising on Scotland's strengths and this £900k investment is tremendous news for the Creative Clyde project."
Linda McPherson, director of creative industries at Scottish Enterprise, said: "The Launchpad approach is designed to help companies in the Creative Clyde area raise their level of innovation and build their competitive advantage.
"We know that companies which invest in R&D – even early stage businesses – can accelerate their business growth, exploit new international markets, and increase revenue from new products and services developed. Creative Clyde is a great place to make this happen."
It is envisaged that up to 15 projects will be funded from the competition. For more information, visit www.innovateuk.org/competitions.ashx.