Two significant investments have been revealed for a new shared space for those working to give back to the community.

In August, Pillar Nonprofit Network, along with partners Emerging Leaders, the London Arts Council and London Heritage Council announced the purchase of 201 King Street for the new Social Innovation Shared Space.

Wednesday, it was revealed that the Ontario Trillium Foundation will invest $274,000 and London Life $150,000 toward the Community Solutions Lab, which will be at the core of the Shared Space.

"I'm proud that our government is supporting this innovative project that will help organizations collaborate, create partnerships and come up with creative and sustainable ideas that will have a positive impact on the people in our community," said London North Centre MPP Deb Matthews in a statement.

The lab will include space for workshops, events and activities where so-called "community change-makers" can share expertise and knowledge and partner to create solutions for the city's challenges.

It will be equipped with the latest tools and technology, with the goal of leveraging the expertise of businesses, nonprofits, government and academia to address systemic problems in London like poverty, youth unemployment, mental health and economic development.