Another bright idea
<mini-rant>Not wishing to make any criticism of dear old two brains, but we already have too many universities and are likely to see some going to the wall in the next few years. Also, correct me if I'm wrong, don't most existing ones already teach arts as well as science? Many universities already do the public/private partneship thing with local and multinational firms, so I'm not seeing the big idea here.
It might be more advantageous to concentrate on making secondary school science courses relevant and fun (remember experiments, those of you who are old enough), really jack up the computer science teaching (discussed ad nauseam here already) and provide good vocational courses for those who don't want to or can't (for whatever reason) go to university.
Next, how about technical colleges for the latter group? Perhaps support regional arts colleges too. You could even, if really daring, concentrate on improving what we already have rather than having a new half-baked educational initiative every year.</mini-rant>