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 Parliament, 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 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 Sir Edward John Watson Gieve, (born 20 February 1950) is a former British civil servant, who served as Deputy Governor for Financial Stability of the Bank of England and an ''ex officio'' member of the Monetary Policy Committee from 2006 to 200 ...

chairs the organisation.

Ravi Gurumurthy Ravi may refer to: People * Ravi (name), including a list of people and characters with the name * Ravi (composer) (1926–2012), Indian music director * Ravi (Ivar Johansen) (born 1976), Norwegian musical artist * Ravi (music director) (1926–201 ...

is the organisation's Chief Executive.

Notable persons

* Jonathan Kestenbaum, Baron Kestenbaum (born 1959), chief operating officer of investment trust RIT Capital Partners, and a Labour member of the House of Lords

References

External links