Japanese architect Kengo Kuma will be appointed to head up the V&A's design team, as a result of funding of almost £5 million from the Scottish Government over the next two years.
The Government's financial commitment means the project partners - the Universities of Dundee and Abertay Dundee, Dundee City Council, Scottish Enterprise and the V&A - are now able to undertake substantive fundraising for the full costs of constructing the museum.
Announcing the funding at Duncan of Jordanstone College of Art & Design - part of the University of Dundee - Culture Minister Fiona Hyslop said: "The V&A at Dundee will be great for the city as well as benefitting the whole of Scotland, acting as a magnet for visitors from all over the world.
"Scotland's strong and vibrant creative industries are a high growth sector which already employ more than 63,000 people and contribute more than £5.2 billion to the Scottish economy annually.
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"Alongside the city's very successful games sector, the V&A at Dundee presents quite an opportunity to grow Dundee's reputation as a centre for the creative industries sector.
"The Scottish Government is making a significant capital contribution to the project, providing a sound funding basis to which the partnership can add from other sources to enable the project to proceed."
Hyslop said the international architecture competition sparked an incredible response. With an internationally-renowned architect in place, and a fantastic design, the V&A at Dundee will be an iconic building on the waterfront.
"We have reaffirmed our longer term commitment to helping realise the V&A at Dundee and our intention remains to make a substantial capital contribution to the overall construction costs,"she added.
Professor Pete Downes, Principal of the University of Dundee, one of the local partners in the V&A at Dundee project, said: "We are delighted with the funding package which the Minister has announced today, which will allow the project to progress at full speed in the year ahead.
"It is particularly fitting that we are here in Duncan of Jordanstone College of Art & Design for this announcement today. The College's reputation for excellence is a significant part of what attracted the V&A to Dundee in the first place and contributing to the growth of creative industries is a major part of the University's future strategy.
"The University is a critical economic and cultural hub for the city and we will continue to lend considerable support and expertise to the V&A at Dundee project as it develops."
The Scottish Government will provide capital funding of £458,000 in 2010/11 with £3.1 million earmarked in the draft 2011/12 spending plans. Revenue funding (to cover project running costs) of £280,000 will be made available in 2010/11 with £1 million in the draft 2011/12 spending plans.
(GK)
