Nesta (formerly NESTA, National Endowment for Science, Technology and the Arts) is a British foundation, registered as a charity, which supports innovation.
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.
In October 2010, the government announced that it would transfer NESTA's status from an executive non-departmental public body to a new charitable body.[4]
In April 2012, following the appointment of chief executive Geoff Mulgan, the body became an independent charity, shortening its name to Nesta.[5][6] With this change, Nesta shifted its focus to innovation for public benefit.
In 2016, Nesta received a $300,000 grant from the Global Innovation Fund to carry out research on market failures in aquaculture in Bangladesh and India.[7]
Following the arrival of Nesta's new chief executive Ravi Gurumurthy in December 2019, Nesta announced their new 10-year strategy in March 2021 which focuses on three core missions: sustainability, health inequalities and the education attainment gap.[8]
Following Nesta’s new 2030 strategy, Nesta primarily operates in the following three areas:
A Sustainable Future: Nesta’s programmatic focus is on reducing household emissions by 28 per cent versus 2019 levels, helping to ensure the UK is on track to reach zero by 2048. They will also explore how to improve the UK’s productivity levels.
A Healthy Life: Nesta is focusing on increasing long-term health whilst narrowing health inequalities. In order to halve the UK’s obesity rate by 2030, Nesta is primarily focusing on tackling food environments. Their secondary focus is expanding the evidence bank on the link between loneliness and ill health.
A Fairer Start: Nesta is focusing on improving outcomes for low-income children. Nesta aims that, by 2030, the UK will have eliminated the school readiness gap between those born into deprivation and their peers, with similar gains at age 16 among students receiving free school meals.[citation needed]
