Dr John C Taylor, the creator of the popular Corpus Chronophage Clock, has made a donation of £2.5 million to the University to set up the Professorship of Innovation.
The new professorship, which has been endowed in perpetuity, will combine teaching and research to encourage young engineers to combine innovation with practicality when creating new design.
“I wish to celebrate British ingenuity and inventiveness," said Dr Taylor, "…it’s essential to develop inventions into production for the benefit of the creator while generating local employment through manufacturing growth."
With more than 400 patents to his name, including the bi-metal kettle controls that are used in two billion devices globally, Dr Taylor said that very little is discussed on "business financial freedom and job creation".
"Too much attention is paid to venture capitalist business models, which can leave an inventor with little ownership. One of my proudest achievements in business is that I never borrowed a penny from anyone.
"This is because I always focused on cash flow and used the revenue from manufacturing to fund innovation."