The concept of the Trust was formed in October 2003 when Luton's Rotary Clubs decided to help young people living, working, or in education in Luton. To celebrate Rotary International's centennial year in 2004/05, the Rotary Youth Trust for Luton was born.

Thanks to a major endowment in 2016 from the Steel Charitable Trust, the Trust grew significantly. These awards, now known as the Robert Steel Memorial Awards, support dreams, careers, creativity, and personal growth for young people in Luton.