The bridge would span the river between Nine Elms and Pimlico, plugging the gap between the Vauxhall and Chelsea bridges.
A total of 74 professional teams from across the globe have entered the contest including some of the biggest names in the architecture and engineering industries as well as up and coming talents.
At this stage of the EU regulated competition the designs are being displayed on an anonymous basis. The first stage design ideas are being published online and showcased to at local exhibitions.
The competition’s jury panel includes Wandsworth Council leader Ravi Govindia, Lambeth councillor Joanne Simpson, architect Graham Stirk, engineer Henry Bardsley and CABE chair Pam Alexander. In March 2015 the jury panel will recommend a shortlist of up to four teams to go through to the next competitive stage and to develop more detailed plans.
Leader of Wandsworth Council and jury panel member, Cllr Ravi Govindia, said: “We challenged the world’s designers to come up with creative solutions to a very complex set of design, engineering and transport challenges. The response is testament to the exceptional talent out there. We have now begun to analyse each proposal in detail and I encourage Londoners to explore these ideas for themselves and to tell us what they think.
“To succeed this bridge must be two things at once. It must be a beautiful piece of architecture and a valuable new transport link. This is what our growing city needs and thanks to this competition we now have more than 70 different approaches to consider.”
A £26million contribution is already identified from the development of Nine Elms and the new design would be used to lever-in further funding. The scheme has the support of the Mayor of London.