National Endowment for Science

New Look Economy: Built on Hi Tech & Innovation

The UK can only achieve healthy economic growth and job creation by boosting its high tech capabilities and innovation across the economy, according to a new report published today by NESTA, the National Endowment for Science, Technology and the Arts. Rebalancing Act (1.74Mb PDF) provides new analysis on how to rebalance the economy. It shows that a full-blooded revival of the wider manufacturing sector is wishful thinking and would require growth rates not seen since the Second World War. NESTA worked with Oxford Economics to develop four scenarios for the future balance of the economy, and applied them to an economic forecast model showing how each will affect economic growth, regional performance and employment in the UK. The four scenarios (detailed at the bottom of the release) are: &... »

New Job?

Career Changes abandoned as staff cling to jobs

Employees are scrapping plans to make New Year job changes because of instability in the employment market caused by the economic crisis, according to the National Endowment for Science, Technology and the Arts (NESTA). A NESTA survey of 2,000 workers found that eight in ten employees said they would be sticking with their existing job, saying they felt lucky to be employed in the current market. Four in ten said they are choosing to stay in jobs they do not enjoy, rather than look for a better job elsewhere. NESTA chief executive Jonathan Kestenbaum said: “Employees have decided that where they can, they are going to sit tight, work harder and try to ride out the recession,” The survey also revealed that 50% of employees plan to work harder to boost their prospects in their cu... »

Open Ventures Challenge

Fund offers entrepreneurs chance to form philanthropic firms

A new fundraising partnership is giving budding entrepreneurs the chance to pitch for £10,000 of funding and raise money for cancer research at the same time. Run by Cancer Research UK and NESTA (National Endowment for Science, Technology and the Arts), the Open Ventures Challenge is seeking innovative ideas that can be turned into profitable, philanthropic businesses, with the aim that a percentage of profits will go towards beating cancer. Ideas suitable for the Challenge can come from any business sector. Entrepreneurs who want to get involved are being asked to share their ideas and knowledge on the Open Ventures Challenge website. The idea is that individuals will team up online with other entrepreneurs to form business groups and develop their expertise collectively. Cancer Res... »