The university applied to regional development agency Yorkshire Forward for funding to set up the first Centre for Industrial Collaboration in Digital Printing.
Academics in the university's department of colour and polymer chemistry hope that the centre, which would offer technology and consultancy to digital print companies across the UK, will be operational by next June.
Mike Hopkins, BPIF executive regional director (North) and Print Yorkshire project director, described the project, to be commercially self-funding within three years, as "ambitious".
"The idea is to bring the expertise out of the universities and use it for the benefit of local industry, rather than keep it in an ivory tower," he said.
Long Lin, leading the project at Leeds University, said that the new centre would employ a commercial manager, an administrator and a researcher, but that 42 academics would be available for consultation.
He said that the centre would focus on digital printing due to its "high added value", especially because of the lower wastage when using expensive inks.
Consultation on printing issues and product development will also be available to other areas of the industry.
Lin also insisted that the consulting service would complement, rather than act in competition with, the BPIF and Pira, because of the academics' more scientific approach to problems with printing.
Story by Josh Brooks
Leeds Uni to open new digital centre
Print Yorkshire has backed a 600,000 bid from Leeds University to strengthen links between academia and digital printing.