Nesta (formerly NESTA, National Endowment for Science, Technology and the Arts) is an innovation foundation based in the UK.
The organisation acts through a combination of programmes, investment, policy and research, and the formation of partnerships to promote innovation across a broad range of sectors.
Nesta was originally funded by a £250 million endowment from the UK
National Lottery. The endowment is managed through a trust, and Nesta uses the interest from the trust to meet its charitable objects and to fund and support its projects.
The charity is registered in England and Wales with charity no. 1144091 and in Scotland with no. SC042833. Nesta states its purpose is to bring bold ideas to life to change the world for good.
History
The old NESTA was set up in 1998 by an independent
endowment in the United Kingdom established by an Act of
Parliament
In modern politics, and history, a parliament is a legislative body of government. Generally, a modern parliament has three functions: representing the electorate, making laws, and overseeing the government via hearings and inquiries. Th ...
, the
National Lottery Act 1998. It had been a
Labour Party manifesto promise.
In 2002 it was awarded £95 million.
On 14 October 2010 the Government announced that it would transfer NESTA's previous status from an executive
non-departmental public body
In the United Kingdom, non-departmental public body (NDPB) is a classification applied by the Cabinet Office, Treasury, the Scottish Government and the Northern Ireland Executive to public sector organisations that have a role in the process of ...
to a new charitable body.
On 1 April 2012 the old NESTA transitioned from being an executive to a charitable body, shortening its name to "Nesta".
Operations
In 2021, Nesta announced a new ten-year strategy, that would be focused on three major areas: childhood inequality, public health and a sustainable economy.
Management
Sir
John Gieve chairs the organisation.
Ravi Gurumurthy is the organisation's Chief Executive.
Notable persons
*
Jonathan Kestenbaum, Baron Kestenbaum
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(born 1959), chief operating officer of investment trust
RIT Capital Partners
RIT Capital Partners plc, formerly Rothschild Investment Trust, is a large British investment trust dedicated to investments in quoted securities and quoted special situations. Established in 1961, the company is listed on the London Stock Excha ...
, and a
Labour
Labour or labor may refer to:
* Childbirth, the delivery of a baby
* Labour (human activity), or work
** Manual labour, physical work
** Wage labour, a socioeconomic relationship between a worker and an employer
** Organized labour and the labour ...
member of the
House of Lords
The House of Lords, also known as the House of Peers, is the upper house of the Parliament of the United Kingdom. Membership is by appointment, heredity or official function. Like the House of Commons, it meets in the Palace of Westminste ...
See also
*
Behavioural Insights Team
The Behavioural Insights Team (BIT), also known unofficially as the "Nudge Unit", is a UK-based global social purpose organisation that generates and applies behavioural insights to inform policy and improve public services, following nudge th ...
*
Coproduction (public services)
Co-production is a practice in the delivery of public services in which citizens are involved in the creation of public policies and services. It is contrasted with a transaction based method of service delivery in which citizens consume public ser ...
*
Hidden innovation Hidden innovation or Invisible innovation refers to innovation that is not captured or recognised by traditional indicators such as research and development (R&D) spending or number of patents. The term generally refers to innovation that takes plac ...
References
External links
Nesta official websiteNesta strategy 2017-2020
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Charities based in London
Innovation in the United Kingdom
Innovation organizations
1998 establishments in the United Kingdom
Organisations based in the City of London
Research and development in the United Kingdom
Science advocacy organizations
Science and technology in Dundee
Science and technology in London
Scientific organizations established in 1998
Scientific organisations based in the United Kingdom