According to Dyson, Britain is at risk of losing its existing engineering minds to countries such as China and India possibly leaving the country short of engineers. "Our choice now is either to see Britain's jobs of tomorrow vanish to Mumbai or Shanghai or to educate the next generation in the skills of invention and business-building," Said Dyson. The school is expected to cost approximately $40.5 million to build and establish, half of which the James Dyson Foundation will pick up while the rest will be up to the British government.

Philantropy is certainly running high lately in the tech sector.  Warren Buffet recently announced the majority of his wealth will go to the Bill & Linda Gates Foundation.