An 18th century Birmingham-born entrepreneur who helped lay the foundations for Britain's Industrial Revolution is to be honoured by a memorial in Westminster Abbey.

News of the tribute to industrialist Matthew Boulton follows a series of commemorative events held since the bicentenary of his death in 1809.

Chiefly renowned for the steam engines produced by his partnership with Scottish engineer James Watt, Boulton was also a silversmith and buckle-maker.

The decision to honour Boulton was taken by the Dean of Westminster and will see the entrepreneur's name memorialised alongside those of more than 300 other people who were not buried in the abbey.

Boulton (1728-1809) was also a Fellow of the Royal Society and was honoured by the Bank of England in 2011 when his portrait and an image of his Soho Manufactory, built near Birmingham in the 1760s, was placed on £50 notes.

A statue commemorating Watt's role in British history was first placed in the abbey in 1825 and officials will now work with the Birmingham Museums Trust on the design of the new memorial to his business partner, which is expected to be unveiled next year.

Former Astronomer Royal, Sir Arnold Wolfendale, one of the initiators of the memorial project, said: "Boulton was a born promoter and has lessons for us today - it is not only scientists and engineers who are important in introducing new technology, but men such as Boulton too."

The abbey's dean, Dr John Hall, said: "We are delighted that Matthew Boulton's major contribution to British and world history will finally be recognised with this new memorial."