Nesta (charity)


Nesta 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.
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

Nesta currently operates in the following five priority fields:
: Growing the creative economy and developing new ways of generating finance for organisations in the arts.
: Helping all learners be prepared for future opportunities and challenges, and making the most of new digital technologies in education.
Creating a health and care system that empowers people to lead healthier and more independent lives.
Developing better ways of understanding and supporting innovation in the economy for public benefit, from data to experiments.
Helping governments and communities reshape public services and recraft the role of public servants to be fit for the future.

Management

Sir John Gieve chairs the organisation. Geoff Mulgan is the organisation's Chief Executive. It was announced in August 2019 that Ravi Gurumurthy would replace Geoff Mulgan as Nesta's new Chief Executive in December 2019.