Small business minister Nigel Griffiths paid tribute to a Sussex firm when he launched The Shell Technology Enterprise Programme (Step) 2003.
Step puts students on eight-week summer work placements with small firms, with the student undertaking a project on behalf of the business.
In 2000 the majority of companies made money as a direct result of a placement.
Fifty five per cent profited by £2,000 and eight per cent by more than £20,000.
Both parties benefited from the scheme - 96 per cent of businesses said their expectations were met or exceeded, while 95 per cent of students thought their employability had imp-roved because of their placement.
Mr Griffiths said: "Not only can Step help small firms meet skills shortages but it also means students are introduced to entrepreneurship at a young age.
"Almost all participants believe their employability had improved because of Step, while almost half said they intended to start their own business because of the scheme."
He particularly praised Eastbourne-based Simplantex Direct, which makes equipment for disabled people, and its Step trainee, Marcus Whitney.
Before Marcus arrived at the company, the management had identified a need to diversify to increase turnover and efficiency but Marcus suggested expanding the product range to existing customers.
In one week, his tests generated £7,500 of new sales.
Managing director Oliver Askaroff estimated the new product range could generate sales of up to £450,000 in the first year and four extra jobs.
The new product range was launched and Marcus was offered the job of heading up sales and marketing.
Oliver said the value of Step was "to be able to unlock a resource within your own company, utilising a talented and intellectually capable person".
Trainee Jack Orman won the Sussex section of Step 2002 for his work with electronic sensing specialist Sensatech in Brighton.
Research director Tom Bach said he had made a "tremendous contribution" after he designed a new system for measuring springs.
Sensatech would definitely take part in the scheme again.
Sponsoring organisations, including the Department of Trade and Industry (DTI), Sussex Enterprise and the University of Sussex, contribute towards trainees' wages.
The Department of Trade and Industry is investing almost £900,000 in the programme this year.
Step is available through the Business Link Network and is mostly funded by the Government's Small Business Service, the DTI and Shell UK.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article