Billionaire inventor Sir James Dyson is set to spend £15 million launching the first private university to bridge Britain’s lingering skills gap.
Following the UK’s increased need for engineers, Sir James Dyson has decided to take matters into his own hands. Dyson is hoping that the investment into his own university will double the engineering workforce of Dyson to 6,000 by 2020.
Before the first 25 students will embark on the four-year course, £15m is set to be invested into the first year on setting up what will be called the Dyson Institute of Technology. Being the first new private university in over 20 years, the Dyson Institute will offer fee-free courses and the guarantee of a job after graduation.
With the average age of Dyson’s 3,000 employees being 26, paired with a university-style quad, cafes and sports centre and accommodation, students should gain the full university experience.
In it’s current position, the Dyson Institute will be unable to award university degrees therefore one day a week students will be taught by academics from the University of Warwick, which will initially award the degrees.
Sir James is keen to change this situation, hoping to make alterations as soon as next year. If recommendations to simplify setting up private universities are being considered by the government the company will be able to award its own degrees and rename as Dyson University.
Sir James Dyson said: “We are competing globally with Korea, Japan, Taiwan and Singapore. It’s all the major technology nations and we have got to be better than them.
“The shortage of engineers is a problem in America and Europe and has started to become a problem in Japan. It seems that the fast-growing economies or emerging nations really recognise the value of engineering, but when you reach security there is less interest in what makes you successful.”
Applications are open to students, find out how you can apply.