The scheme aims to create a whole new generation of engineering technicians, giving them structured on-the-job training built upon a recognised academic qualification.
Working through new and established apprentice schemes, the initiative has been created by the Institution of Mechanical Engineers, the Institute of Civil Engineers, the Institution of Engineering and Technology and is backed by the Gatsby Foundation.
The Prime Minister made the announcement as the Bloodhound Supersonic Car visited Downing Street, along with a number of existing engineering apprentices and school children.
David Cameron said: "British engineering and innovation are a part of our history that we are rightly very proud of and our engineering excellence continues to change the world that we live in for the better. Bloodhound is a fantastic example of what our engineers can achieve.
"Apprenticeships are at the heart of our mission to rebuild the economy, giving young people the chance to learn a trade and to build their careers, creating a truly world-class, high-skilled workforce that can compete and thrive in the global race."
Stephen Tetlow, Chief Executive of the Institution of Mechanical Engineers, added: "To help UK companies succeed in this ever-growing competitive global marketplace, we need people with the highest professional skills and abilities.
"This initiative will ensure that the UK has a growing stream of Engineering Technicians being developed to a level that is recognised and respected around the world.
"We are pleased that Mr Cameron recognises the importance of Engineering Technicians to the UK’s engineering, manufacturing and construction sectors."
