NESTA is the UK’s National Endowment for Science, Technology and the Arts - an independent body with a mission to make the UK more innovative. The endowment status means they operate at no cost to the UK taxpayer. They invest in early-stage companies, inform policy, and deliver practical programmes that inspire others to solve the big challenges of the future. NESTA does not work alone their success depends on the strength of the partnerships formed with innovators, policymakers, community organisations, educators and other investors. They bring the best ideas, new flows of capital and talented people together, and encourage others to develop them further. The National Endowment for Science, Technology and the Arts (NESTA) was established by an Act of Parliament in 1998. The company acts through a combination of practical programmes, early stage investment, research and policy, and the formation of partnerships to foster innovation and deliver radical new ideas. Funded by a £250 million endowment from the UK National Lottery, NESTA uses the interest from that endowment to fund and support its projects. On 14 October 2010, the Government announced that it would transfer NESTA's status from an executive non-departmental public body to a charitable body. NESTA's work to tackle social and economic issues in the UK at no cost to the taxpayer will continue.

Source: NESTA