It opened in 2001, replacing the old science museum at the former Elkington Electroplating Works in the Jewellery Quarter.

Thinktank contains interactive exhibits about science and technology in the past, present and future.

It is divided into four sections: Thinknow, Thinkhere, Thinkback & Thinkahead.

(1) Thinknow is about current science and technology; (2) Thinkhere is dedicated to the history of Birmingham from the Domesday Book (1086) to the present; (3) Thinkback exhibits industrial machinery, vintage vehicles and aircraft; and (4) Thinkahead examines the possible future impact of new advances in science, medicine & technology.

The museum is managed by the Thinktank Trust which charges comparatively high admission fees. This is controversial because the old science museum was directly managed by Birmingham City Council and did not charge admission.

Thinktank also contains a full-dome 360-degree planetarium, an IMAX cinema, cafe and licensed lounge bar. Parking is available at Millennium Point.

It was announced in July 2011 that the Thinktank Science Museum and the Birmingham Museum and Art Gallery will now be managed by a single charitable trust in order to reduce running costs (News Headlines 06/07/11).