£8M has been given to the Royal Academy of Engineering and £2M to the Royal Commission for the Exhibition of 1851, under Gift-Aid arrangements, to fund new activities in the general field of engineering and especially those of electrotechnology, telecommunications and IT systems.
Whilst the two organisations are still to finalise the detail of how the funds will be used, schemes under consideration include a prestigious prize, raising the profile of engineering as a career, and industrial fellowships.
The ERA Foundation, which is a direct successor to the Electrical Research Association, is committed to encouraging and supporting industry in the UK. It funds high-quality research and educational activities with the aim of providing direct benefit to the electrical and electronic engineering sectors. Its chairman Sir Alan Rudge said: “We are delighted to provide these funds to two professional organisations which we know will use them effectively to benefit engineering and industry in the UK”.
In acknowledging the donation the President of the Academy, Lord Broers, said: “I am enormously grateful to the ERA Foundation for its decision to donate such a significant endowment to the Academy. This will enable us to develop new programmes in support of our charitable objectives which will deliver real benefits to industry in the UK.”
Mr Malcolm Shirley, Secretary to the Royal Commission for the Exhibition of 1851, said: “The Commission is profoundly grateful for the Foundation’s great generosity. The funds generated will be put to best use towards education and research in the electro-technology sector”.