The organisation that oversees the dot UK domain has announced that it will devote GBP 5 million to set up a foundation to foster research and development as well as educational initiatives in the UK internet industry.
Nominet is in charge of regulating the six million registered dot uk domain name, which bring in several million pounds per annum.
Nominet's Head honcho, Lesley Cowley, said in a statement "Over the last few months, we have consulted with our members and wider stakeholders and received very positive feedback on the idea of creating the first foundation to fund research and educational initiatives in the UK internet arena."
He also added that "At the heart of our decision is the fact that Nominet is a not-for-profit organisation. We believe any surplus income should be used for the benefit of the UK internet community. We now have a growing, successful .uk registry and the ability to fund worthwhile projects. We are extremely excited about the types of work the foundation will be able to fund."
Nominet will soon start to operate the UK ENUM registry - a standard that will unify the telephone numbering system with the Internet's Domain Name System - as well and according to PCPro, proposals already submitted include a website listing local health facilities and another one which promotes online human rights.