• Education institute launched to plug technology skills gap

Billionaire inventor Sir James Dyson has set up his own academic institute in a bid to tackle the technology skills shortage in the UK.

The founder of Dyson said that by 2020, the UK will need another million engineers who have skills in hardware, software and electronics.

Sir James claims he has spent years highlighting a lack of skills to the Government, and Universities Minister Jo Johnson challenged him to set up his own institution. He said that he and his company have now “taken matters into our own hands.”

The inventor has also claimed that there is a general lack of understanding about the number of skilled technicians and engineers which are needed now, and will be required in the future. He believes many people do not realise the strength of the international competition, especially from countries such as China, India and South Korea.

The Dyson Institute of Technology will initially offer a four-year engineering degree in partnership with the University of Warwick. Lord Bhattacharyya, chairman of the Warwick Manufacturing Group at the University of Warwick, said: "It is vital that in order for UK companies to be competitive they must have the right people with the right skills."