On 12th June 2016 at the 70th annual Tony Awards, it was announced that the Andrew Lloyd Webber Foundation is awarding $1.3million to the American Theatre Wing, founder of the Tony Awards, for the new, national 'Andrew Lloyd Webber Initiative'. The money will go towards establishing a multi-faceted initiative which helps talented students overcome economic barriers to pursue a career in the theatre and provide enterprising state school drama teachers with the resources they need to nurture young talent in their schools.