Leeds is the fourth major city identified by the firm to benefit from equal upload and download speeds of up to 100 megabytes per second.
Once the ultrafast fibre is installed directly into the 125 city centre premises, each small business will get their own dedicated internet connection, according to the company.
Similar packages have already been launched in London’s Tech City, Manchester’s Northern Quarter and Birmingham Jewellery Quarter.
A billboard unveiled on York Road as part of the scheme uses a motion-blurred backdrop and props, meaning passing pedestrians appear to be travelling at hyper speed.
Mike Smith, Director of SME, Virgin Media Business said: “Small businesses with big ambitions need reliable, secure, high speed internet access in order to thrive.
“Better connectivity will transform Leeds tech hubs and allow these businesses to seize the chance to become digital leaders.”
Cllr James Lewis, Deputy Leader of Leeds City Council said: “We welcome this programme of digital investment in Leeds and hope that this will offer small businesses the opportunity to boost their speeds and productivity.
“By encouraging providers like Virgin Media to invest in Leeds, we can help to establish a competitive market and provide a genuine choice for customers.”