Nesta (charity)

Summary

Nesta
Nestafrontofhouse1.jpg
Nesta Headquarters
Formation1998 (24 years ago)
TypeCharity
PurposeInnovation
HeadquartersVictoria Embankment
London, EC4
United Kingdom
Websitewww.nesta.org.uk

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, the National Lottery Act 1998.[1] It had been a Labour Party manifesto promise.[2] In 2002 it was awarded £95 million.[3]

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.[4]

On 1 April 2012 the old NESTA transitioned from being an executive to a charitable body, shortening its name to "Nesta".[5][6]

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.[7]

Management

Sir John Gieve chairs the organisation. Ravi Gurumurthy is the organisation's Chief Executive.[8]

See also

References

  1. ^ National Lottery Act 1998 Section 16 and Schedule 4
  2. ^ Gibbons, Fiachra (1 July 1999). "Arts and science 'damp squib'". The Guardian. Retrieved 26 August 2021.
  3. ^ Curtis, Polly (11 November 2002). "£95m boost to UK innovation". The Guardian. Retrieved 26 August 2021.
  4. ^ Curtis, Polly (14 October 2010). "Quango review sees five major bodies becoming charities". The Guardian. Retrieved 26 August 2021.
  5. ^ Scott Buckler (3 April 2012). "Nesta becomes an independent charity". Gov Today. Archived from the original on 6 January 2014. Retrieved 5 January 2014.
  6. ^ The Public Bodies (Abolition of the National Endowment for Science, Technology and the Arts) Order 2012
  7. ^ "Nesta unveils new ten-year strategy". www.civilsociety.co.uk. Retrieved 17 January 2022.
  8. ^ "Ravi Gurumurthy to join Nesta as chief executive". www.civilsociety.co.uk. Retrieved 17 January 2022.

External links

  • Nesta official website
  • Nesta strategy 2017-2020

Coordinates: 51°30′59″N 0°06′31″W / 51.516525°N 0.108623°W / 51.516525; -0.108623