Nesta becomes an independent charity
- Published on Tuesday, 03 April 2012 14:04
- Written by Scott Buckler
On 1 April, the National Endowment for Science, Technology and the Arts (NESTA) became an independent charity, after it was abolished as a non-departmental public body
The new charity, to be known as Nesta, will continue to support innovation through a combination of practical programmes, investing in start-up innovative companies, and carrying out research into innovation.
The National Lottery endowment has been transferred to a separate Trust which will be used to support innovative activities in line with the Trust’s charitable objectives. Nesta will be the sole trustee of the NESTA Trust.
James Sinclair Taylor has been appointed as the Protector of the NESTA Trust. Mr Sinclair Taylor’s role is to ensure the integrity of the administration of the Trust and the propriety of its procedures.
This marks the completion of a process which started with the Government’s announcement in October 2010 as part of the public bodies reform programme.