The Sport Hive will bring together entrepreneurs, students and businesses to "develop ideas that enhance the world of sport".
Six "incubees" will receive business mentoring from industry experts to help grow their respective businesses.
The Sport Hive was set up by a project called Sporting Chance Initiative, which started in 2010.
Since then it has helped more than 700 Scottish companies realise their business potential, according to organisers.
The Sport Hive's incubees include Scotland's first "sports entrepreneur in residence", Michael Harkins.
Mr Harkins, who is a swimming instructor, is developing a children's flotation aid called Turtle Pack which won him a sports innovation challenge competition award in 2015.
He said: "The recognition and funding provided gave me the momentum and desire to kick-start the Turtle Pack journey.
"It's a great honour to be part of The Sport Hive and I'm looking forward to sharing my knowledge and experience with the other start-ups."
Among other ideas which will be developed at the hub are a patent-pending hydration product that converts water instantly into an isotonic sports drink and training apparel fitted with sensors for motion capture.
Sporting Chance Initiative programme manager Ryan Carenduff said: "We know from our national entrepreneurship programme, The Sports Innovation Challenge, that the next generation of Scottish sports entrepreneurs are brimming with innovative ideas for sports products, services and technologies.
"The Sport Hive will help us nurture and support these entrepreneurs and other start-ups through mentoring, investment and our international links to other sports incubators in France, the Netherlands, the United States of America, Canada and Australia."
Scotland's first sports business incubator is being launched at Stirling University Innovation Park.