Warwick University's new chancellor says business will increasingly provide money for higher education, as government funding changes.

Sir Nicholas Scheele, chief operating officer of Ford Motor Company was installed in the ceremonial post on Saturday.

He called for closer ties between universities and business.

I think in the future, education and industry need to become even more closely linked than they have been historically

Sir Nicholas Scheele

Sir Nicholas is a former chief executive of Jaguar and has links with education, training and charity groups in the West Midlands.

He said: "Warwick is one of the top universities in the UK and I will strive to further enhance its excellent teaching and research reputation.

"I think in the future, education and industry need to become even more closely linked than they have been historically.

Building bridges

"As government funding changes, the replacement could well come through private funding from companies, individuals and grant-giving agencies."

Sir Nicholas is also chairman of the Prince of Wales Business and Environment Committee, and chairs the manufacturing group of Foresight 2020.

Foresight is a government programme which aims to identify the UK's future needs and to build bridges between industry, science and government.