The National Endowment for Science, Technology and the Arts and two other partners are to invest £25 million in social ventures to tackle some of the biggest challenges in the UK.
The money is being invested by Nesta, Big Society Capital—an organisation which invests in social projects using money from dormant bank accounts—and Omidyar Network, a philanthropic investment organisation. Together they will operate Nesta Impact Investments and invest in projects that address concerns such as health and wellbeing in an ageing population, educational attainment and employability and the sustainability of communities. There will be a particular emphasis on the use of technology to tackle these issues.
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