Money will be used to establish the Dyson School of Design Engineering.
British inventor, industrial designer and founder of the Dyson has gifted £12m to Imperial College London to build the Dyson School of Design Engineering. The school will train future engineers and technology leaders.
James Dyson said: "We want to create engineers who are bold and commercially astute.
"They will use their skills, nurtured in the Dyson School, to develop future technology that will catalyse Britain’s economic growth."
The funding has been made through Dyson’s charity, the James Dyson Foundation.
The Dyson School will be housed on the Exhibition Road in a building previously used in part by the Royal Mail and recently purchased by Imperial from the Science Museum.
The Dyson School of Design Engineering will offer four year MEng course in Design Engineering from October 2015, with the facility offering industry standard equipment and studio space for 400 students to design, prototype and test new product ideas.
The curriculum for the course has been designed in partnership with Dyson engineers.
UK Chancellor George Osborne said: "Backing Britain’s world leading science, research and innovation is a key part of our long term economic plan.
"It is fantastic to hear about the new partnership between the Dyson Foundation and Imperial College to open the new Dyson School of Design Engineering that will play a key role in training the next generation of design engineers."
Imperial College London professor and president Alice Gast said, "Design combines the best of technical expertise with creativity and the Dyson School of Design Engineering is uniquely placed to bring these together in its student experience and research.
"Imperial and Dyson passionately share a vision for educating engineers to elicit innovative thinking and problem solving. The James Dyson Foundation’s generous donation, along with Dyson’s industrial expertise, gives us the opportunity to create a world-leading School for a new kind of engineer to design the future."
Image Coutesy: Imperial College London