A new £6 million round of government funding has been allocated to support thousands of degree-level higher apprenticeships.

A new £6 million round of government funding has been allocated to support thousands of degree-level higher apprenticeships.

The extra cash comes on top of a £25 million boost for the Higher Apprenticeship Fund launched in July last year by prime minister David Cameron.

From today (Tuesday), businesses and training providers can bid for a share of the £6 million fund, which will support the development of thousands of new higher apprenticeships in sectors including aerospace, energy and renewable technologies.

Cameron also announced the opening of the £250 million employer ownership pilot investment fund for bids from businesses in England to support vocational training.

Additionally, small companies will be offered an incentive of £1,500 to hire their first young apprentices, an initiative which is expected to support up to 40,000 new apprenticeships over the next year.

Cameron says, ‘By making apprenticeships a gold standard option for ambitious young people, we are sending a message that technical excellence is as highly valued as academic prowess.

‘By focusing investment where it is most needed to deliver sustainable growth and offering real ownership of vocational training to employers, we are equipping businesses with the skills they need to rebalance our economy and distribute opportunity more widely.’

See also: Apprenticeship bill unveiled