Set to be chaired by Roger Liddle, chair of the Policy Network and CumbriaVision, it is hoped the new board will form a greater link between the government’s agenda for jobs and industry and higher education.
Business secretary Peter Mandelson, announcing the panel, said: "The New Industry, New Jobs agenda will help equip Britain to succeed in what will be a radically transformed global economy over the next decade."
He added that both people and businesses needed to be equipped with the skills necessary to take advantages of changes to come and that he hoped the panel would generate new ideas and "fresh thinking".
The panel will also feature professor of public economics at the London School of Economics Nicholas Barr and Adam Lent, head of economic and social affairs at the Trade Union Congress.
Lord Mandelson recently suggested that college tuition fees will have to rise in order to guarantee quality, during a speech at Birkbeck University.
