Nominet, the registry for .uk domain names, today announced the creation of a new organiastion, which it hopes will fund and encourage the development of education and research initiatives in the UK's internet industry.

The Nominet Foundation is a charitable organisation set to launch this summer with an initial donation of five million pounds.

“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," said Nominet chief executive Lesley Cowley. "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.”