The Royal Institution of Great Britain (often the Royal Institution, Ri or RI) is an organisation for scientific education and research, based in the City of Westminster. It was founded in 1799 by the leading British scientists of the age, including Henry Cavendish and its first president, George Finch. Its foundational principles were diffusing the knowledge of, and facilitating the general introduction of useful mechanical inventions and improvements, as well as enhancing the application of science to the common purposes of life (including through teaching, courses of philosophical lectures, and experiments).
Much of the Institution's initial funding and the initial proposal for its founding were given by the Society for Bettering the Conditions and Improving the Comforts of the Poor, under the guidance of philanthropist Sir Thomas Bernard and American-born British scientist Sir Benjamin Thompson, Count Rumford. Since its founding it has been based at 21 Albemarle Street in Mayfair. Its Royal Charter was granted in 1800.
The Royal Institution was founded as the result of a proposal by Sir Benjamin Thompson (Count Rumford) for the "formation by Subscription, in the Metropolis of the British Empire, of a Public Institution for diffusing the Knowledge and facilitating the general Introduction of useful Mechanical Inventions and Improvements, and for the teaching by courses of Philosophical Lectures and Experiments, the application of Science to the Common Purposes of Life".
Rumford's proposal led to a 7 March 1799 meeting at the house of Joseph Banks, then president of the Royal Society, a similar but much older learned society. A follow-up meeting on 9 March saw the first meeting of the managers of the Institution. In June of that year, the society elected George Finch, 9th Earl of Winchilsea as its first president, and in July it purchased the 21 Albemarle Street, Mayfair building that has served as its home ever since. Renovations began immediately on the building to provide appropriate meeting, office, and laboratory space for the Institution's mission.