Nesta Creative investor

NESTA, the National Endowment for Science, Technology and the Arts, was set up by Act of Parliament in 1998. Our purpose was to help create a vibrant, dynamic culture and economy by supporting and promoting innovation and creativity in the UK. To this end, our aims are to help talented individuals reach their potential, to help innovative ideas reach the market, and to contribute to public knowledge and appreciation of science, technology and the arts.

 

www.nesta.org.uk

NESTA was set up by the National Lottery Act in 1998, and our programmes were opened the following year. Visit our Background section to chart the progress we have made since then, look at a breakdowns of the financial awards made, check how we make our decisions and download all of our publication

NESTA, the National Endowment for Science, Technology and the Arts, was set up by Act of Parliament in 1998. Our purpose was to help create a vibrant, dynamic culture and economy by supporting and promoting innovation and creativity in the UK. To this end, our aims are to help talented individuals reach their potential, to help innovative ideas reach the market, and to contribute to public knowledge and appreciation of science, technology and the arts.

We launched our initial three programmes, Invention and Innovation, Fellowship and Learning in the latter part of 1999, and in our first three years, we have built on this with the Creative Pioneer programme and Ignite!, a new development from the Fellowship programme. We have also launched a number of major initiatives including Science Year (now Planet Science) and NESTA Futurelab. Working collaboratively with other organisations by establishing partnerships and supporting competitions has allowed us to extended this impact.

We’re here to invest for the long-term, but all this activity is already starting to generate returns, both economic and cultural. Our awardees are filing patents, starting new businesses, testing and developing prototypes. Works of art, design and multi-media have been commissioned, exhibited or performed. Our educational projects have begun to inform Government thinking about the science curriculum and talented children.

As Invention and Innovation awardee Martin Lowson says, “There is no point in having a great idea if no-one knows about it.” Equally there’s no point in people knowing about an idea, if they won’t believe in it, support it or invest in it.

Creative people who challenge conventional thinking, develop fresh approaches and come up with new ideas can be found in all disciplines – from science and technology through to education and the arts. With the right kind of investment, their inspiration can make a real contribution to cultural development, scientific progress or economic growth.

NESTA, the National Endowment for Science, Technology and the Arts, believes that innovative people in the UK deserve investment and support. This is precisely why we were created: to give individuals the time, space, money and support to push at the boundaries of knowledge and practice.

Set up by Act of Parliament in 1998, NESTA uses the interest on a National Lottery endowment to pioneer ways of supporting and promoting talent, innovation and creativity. We invest in a diverse range of people, including scientists, inventors, engineers, medical practitioners, educators, artists, writers, film-makers and musicians.

Our unique approach applies to both the kinds of projects we fund and the way we fund them. This is clearly reflected in our award programmes: Invention and Innovation, Fellowship, Learning, Graduate Pioneer and NESTA Futurelab.

As you can see, they all invite or commission projects in different ways. But what is common to all the programmes is the emphasis on both creative and commercial value. We don’t expect guarantees or short-term success, we look instead at the potential and the long-term. What’s more, the returns we seek are not purely financial; the cultural and social benefits can be equally important.

So if you have an inspired idea that you’d like to pursue, or would simply like to find out more about NESTA, then please read on.

*This figure includes Planet Science, NESTA Futurelab and other partnerships and competitions.

What do we offer?

A brilliant idea is a long way from a good business. Our funding is flexible because we recognise that different projects have different needs. For many awardees, access to professional support and expertise is as important as the funding, and we often find that the need to gain understanding of business issues increases in importance as the early technical hurdles are overcome. This means our support goes beyond the financial investment, and the additional support can include access to professional support and expertise from carefully selected mentors. The guidance offered by them, most of whom have extensive experience of business at a very senior level, can make a significant difference in turning a great idea into a successful one.

In return for the investment and support, we take a stake in any future commercial success of the invention, and any financial returns we make are invested back into new ideas.

Who are we looking for?

Broadly speaking, we seek to fund innovators with ideas that have the potential to break new ground in their field and could truly be described as “cutting edge”. The majority of successful applicants intend to exploit their idea commercially – to either develop a business around their idea or license it to another company. The applicant will need to demonstrate that a good market or audience is likely to exist and that they have planned how to exploit their idea. We will consider ideas that have little or no commercial value, but applicants will need to clearly articulate the expected non-financial returns from the investment.

“My bedroom was my own little world – a place to escape and create stuff – a place where I submerged myself in music, art and Newcastle United.”

Jimmy Turrell, Designer

 

How do we choose?

The Invention and Innovation programme is open access and accepts proposals via the NESTA website only. The programme is extremely competitive, receiving more than 1000 proposals a year and investing in around 50 of them. Most projects receive between £30,000 and £85,000.

The process involves a preliminary filter via the website which is independently assessed, then an invitation to submit a full proposal. The full proposal undergoes yet more assessment by independent experts, and the final investment decision is taken by the Invention and Innovation Committee, The Committee is made up of independent experts who bring in-depth and broad business experience to the decision making process. For further information on what we are looking for, please see the guidance notes in the Apply now page.

Please do visit the site to see what nesta can offer you!