§ Mr. CorbettTo ask the Secretary of State for Culture, Media and Sport how much of its funding from the326W National Lottery the National Endowment for Science, Technology and the Arts will make available for projects to turn innovations into products and services. [76027]
§ Mr. Chris SmithThe National Endowment for Science, Technology and the Arts is funded by an endowment of £200 million from the National Lottery, which will provide an annual income of up to £10 million. It has yet to be decided how the amounts will be apportioned to the different parts of NESTA's remit. As well as funding innovative products and services, finance will be provided for mentoring and placement schemes; masterclasses; centres of excellence; showcasing and summer schools.