LONDON, ENGLAND.- Chris Powell is to be the new Chair of NESTA: The National Endowment for Science, Technology and the Arts, Culture Secretary Tessa Jowell announced today. The appointment is for four years and has a rate of remuneration of £23,850.  Mr Powell will take up post on 31 October 2003.
 
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 in science, technology and the arts.  NESTA was created to give UK innovators across the disciplines, the time, space, money and support to push at the frontiers of knowledge and practice.  The projects that NESTA supports have the potential to make a contribution to the UK’s economic and cultural wealth.
 
Tessa Jowell said:  "I am delighted that Chris Powell has agreed to take on this key role at NESTA.   His advertising background will be invaluable in helping promote NESTA’s ideas and strategies and I know he will provide the vision and leadership necessary to drive forward these important agendas".
 
Chris Powell said: "It will be a challenge to follow the Chairmanship of Lord Puttnam, who has been the inspiration for NESTA and led it through its formative years.  Nurturing innovative talent to good purpose enriches us all.  I’m excited to be asked to be part of such an important and interesting mission."
 
NESTA pioneers new ways of supporting and promoting talent, innovation and creativity in science, technology and the arts.  It helps individuals with outstanding original talent to fulfil their potential and explore new creative territory, turns ground breaking ideas into products and services with commercial and social potential and pilots innovative methods of creative learning. A growing network of partnerships and collaborations enables NESTA to extend its reach and influence policy and practice in these areas.
 
NESTA was established in 1998.  In February 2003, NESTA received an additional £50 million to its initial endowment and an additional ,45 million, from revenue funding, to operate future programmes.  To date, NESTA has made over 300 awards.
 
The National Lottery Act 1998 confers specific responsibilities on NESTA=s trustees, which requires them to devise and implement appropriate means to achieve NESTA=s primary aims, and to act as stewards of the UK=s first national endowment by applying a policy for the investing of funds in accordance with guidelines set by the 1998 Act, and with related directions issued by the Secretary of State. Trustees are also responsible for ensuring that NESTA seeks to enhance its endowment though fund-raising, the acquisition of intellectual property, and by other means.
 
Chris Powell is the Chairman of BMP DDB Advertising Agency.  Under his leadership, the Agency became the second largest in the UK and was voted "the most creative Agency in the world".  Chris has advised many of the leading commercial advertisers, including Unilever and Cadbury and has also been adviser to the Labour Party (1985-1998).  Outside advertising, he is the Chair of ’Think Tank’ – the Institute of Public Policy Research and the Creative Industries Advisory Group of the British Council.  He is also a board member of United Business Media PLC and Riverside Studios.  Previous appointments include Chair of the Ealing, Hammersmith & Hounslow Health Authority.