NESTA welcomes opportunity to work with DIUS

31/07/2007

"We are excited to be working with this new department."

With endowed funds of over £300 million, NESTA was set up by an act of parliament in 1998. Its mission is to transform the UK's capacity for innovation making it a logical fit for DIUS, given the department's new innovation remit.

NESTA encourages innovation in the UK in three main ways: by working to build a more pervasive culture of innovation; by providing innovators with access to early-stage capital; and by driving forward research into innovation, with a view to influencing policy.

Previously, NESTA's primary link with government lay with the Department for Culture, Media and Sport (DCMS). With a strong interest in developing businesses in the creative industries, NESTA will continue to maintain a good relationship with DCMS but work even more closely with DIUS.

Commenting on the new affiliation with DIUS, Jonathan Kestenbaum, CEO of NESTA, said:

"We are excited to be working with this new department. Through DIUS, innovation now has a seat at cabinet - a sign that the Government is starting to understand its importance to our future economic and social prosperity. What will be critical is for DIUS to work closely with DBERR and the Treasury to drive the innovation agenda forward. We're confident we can help in this process and shape policy so that the UK becomes a global benchmark for innovation."

NESTA spokespeople are available for comment and interview. Please contact our press office on 020 7438 9608.

NESTA
NESTA is the National Endowment for Science, Technology & the Arts. With endowed funds of over £300 million, our mission is to transform the UK's capacity for innovation.