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UK inventor Sir James Dyson has announced the creation of a new technology institute in an effort to provide the nation with enough skilled technology and engineering graduates for the future.

The Dyson Institute of Technology will be based in Malmesbury, Wiltshire, and will open in the autumn of 2017. The courses offer a mix of hands-on engineering with degree-level teaching provided on site by the University of Warwick.

The first intake of students will be only 25 strong, but Dyson hopes to grow the institute to become a fully-fledged university with the ability to issue its own degrees.

The website also lists several potential areas in which students will work if they are chosen as one of the first 25.

Perhaps even more useful for those interested in attending is that there are no fees and students will be paid for their time working at the institute.

Applicants need at least AAB at A Level or equivalent “including an A grade in Mathematics and at least one other science, technology or engineering-related subject”.

Dyson explained that the mix of experiences will ensure that students are better prepared for the real world when they graduate.

“The new degree course offers academic theory, a real-world job and salary and access to experts in their field,” he told the BBC.

Universities minister Jo Johnson added that the institute will play a vital role in producing talented engineers for the future.