Nesta (charity)
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. 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 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.