A £25 million fund to support up to 10,000 advanced and higher apprenticeships has been announced, giving firms in sectors such as advanced manufacturing, IT and engineering the high tech skills they need to grow.
Entitled the Higher Apprenticeships Fund, it will support the expansion of apprenticeships up to degree equivalent in companies, particularly SMEs, where there is unmet demand for the higher level skills that are necessary to create additional jobs and growth.
The new apprenticeships will begin this coming October.
“Apprenticeships will increasingly deliver not just basic training, but also the high level, high tech skills that drive growth,” says Business Secretary Vince Cable. “The Higher Apprenticeships Fund is a crucial step towards placing vocational learning on a par with academic study, giving bright youngsters the opportunity to work with and build the most dynamic firms in the country.”
"We are investing in apprenticeships because we know they work - they are good for people who want to get ahead, good for business and good for the country,” Prime Minister David Cameron said of the fund.