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

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in the United Kingdom established by an Act of

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, the

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. It had been a Labour Party

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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

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chairs the organisation.

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is the organisation's Chief Executive.

Notable persons

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(born 1959), chief operating officer of investment trust

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, and a

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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 Westminster ...

References

External links