BT is funding a multi-year scholarship programme run by the Institution of Engineering and Technology (IET) to support and inspire graduates to pursue technology related careers.
The IET Diamond Jubilee Scholarship programme will use BT's funding to provide practical and financial support to 75 of the brightest technology and engineering undergraduates for the duration of their studies.
Nigel Fine, IET chief executive, explained that the programme comes as more technology and engineering related skills are required to fill job openings. The IET also hopes to attract more female workers to the sector.
"Over the next 10 years we need to double the number of apprentices and graduates just to meet employer demand. By working in partnership with influential engineering employers like BT we can tackle this shortage of engineers head on and help protect the UK's economic prosperity," he said.
As part of its sponsorship BT will have a representative on the IET's Scholarship Committee, which will select 25 students from the UK each year for three years to receive support from the programme.
The standards for entry are reasonably steep. Those who wish to be considered need three A grades at A Level and must study an IET accredited degree. The first 25 scholarship entries will be announced in October.
The scholarships will also look to raise the number of women entering Science, Technology, Engineering and Mathematics careers by guaranteeing that at least 50 percent of the students on the programme will be female.
BT's involvement extends to delivering regional mentoring and offering work placements.
Gavin Patterson, BT's chief executive, also announced plans to improve the technology literacy skills of 400,000 primary school children over the 2015/2016 academic year.
BT will achieve this by extending the Barefoot Computing programme beyond England to cover the whole of the UK.
Barefoot Computing is funded by BT and run by BCS, The Charted Institute for IT. It supports teachers in educating students about the computer science elements of the new primary computing curriculum.
The programme offers the resources to teach pupils and teachers about practical ways to instruct pupils in computer science.
BT's commitment to the programme aims to deliver training to 15,000 primary school teachers across the UK, and the company will work with schools to see how technology can be used to support teachers.
Patterson explained that BT's support in developing technology skills in the UK will help to ensure that the UK can meet the demand for specialist technical skills.
"If we are to have a dynamic economy, we need a society where people understand the basics behind how tech works, and have the knowledge to create and develop it, not just consume it," he said.
"A generation of young people who are tech literate is fundamental. Bringing computing into primary school classrooms was a landmark step, but we need to do more to enable teachers to teach it."
BT is not the only company concerned about the UK's perceived lack of technology skills, and many UK businesses have said that the digital skills gap is affecting productivity.
However, the skills gap is encouraging companies to be more innovative with how they source the technical talent they need. One such initiative involves simulated hack attacks to find the cyber security specialists of the future.
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