The donation, totalling £1 million over three years, will encourage young people to pursue their interest in design & engineering further, and boost the support already offered by the Foundation.

Here at the University of Bath we are due to receive a scholarship from the Foundation for a PhD student to study in the Faculty of Engineering & Design. This will be worth £25k each year for three years.

The James Dyson Foundation says the donation is in response to the shortage of engineers in the UK; the UK produces only 24,000 engineering graduates a year, compared to 300,000 in China and 450,000 in India.

Sir James Dyson said: "Studying design & engineering is costly. But it’s vital. We don’t produce enough engineers to get the country out of economic doldrums with new technology. The challenge is ensuring the best don’t drop out in favour of banking careers."

Dean of the Faculty of Engineering Professor Gary Hawley said: "This is fantastic news for the University. We have a proud tradition of engineering research and collaboration with global businesses such as Dyson. This announcement will help create new opportunities for the engineers of the future."