The Printing Charity will use the funds, totalling more than £17,000, to continue to provide bursary grants to students on courses related to printing technology and print business management.

Set up in 2000, The John Crosfield foundation was registered as a charity by former employees of Crosfield Electronics as a means of keeping the Crosfield name and legacy alive in the printing industry.

John Crosfield, who passed away in March 2012 aged 96, pioneered automatic register control and colour scanning technologies for the printing industry with his company Crosfield Electronics, which won 15 Queen’s Awards for Technology and Exports.

The Printing Charity is backed by £25m of investments and has set of target of helping three times as many people as it currently supports through training and funding in hardship.

Printing Charity chief executive Stephen Gilbert said: “Feelings are a little mixed because the foundation is winding up, but the reason we were chosen was because we are doing something with Print Futures. Last year we put £30,000 into the initiative.

“We helped 612 people last year and aim to help 2,000 in 2017. We are very well funded and backed by £25m of investments, so we know we can deliver. Our issue is not raising money but helping more people; we know they are out there, we need to find them.”

John Crosfield Foundation chair of trustees and former deputy managing director of Crosfield Electronics Lars Janneryd said: “Over the last 13 years, the foundation has helped 16 students through their degrees to go on to successful careers in the printing industry. We feel it is time to pass this charitable purpose to another organisation.

“The Printing Charity, which was established in 1827 and last year gave away over £1m, is well able to do this. The Print Futures Awards, co-sponsored by the charity, give grants to young people aged between 16 and 30. This very much aligns with the aims of the John Crosfield Foundation.”