Ufi Ventures Bulletin:

September 2024

The latest insights in EdTech for adult skills for work

As we transition into the back-to-school season, our latest bulletin is packed full of exciting updates and a catch-up on what you may have missed over the summer.

This month we published our Five Years of Investing in VocTech report, celebrating half a decade of supporting highly innovative and scalable ventures.

Over the summer we released our Q2 VocTech market activity report with Tyton Partners, revealing AI's dual impact on job markets, exploring the challenges facing the UK’s new Labour government and providing strategic insights drawn from continental Europe and North America.

We also announced our Challenge Fund, launching later this year, designed to support early-stage companies using VocTech to make a positive impact on skills development for our economy in transition.

Updates in this bulletin also include: 

• Useful content - Ufi Ventures to speak at BESAxBett event this month; Explore Ufi's Annual Review of 2023; Join GoodTech Ventures for their founders showcase.
   

• Portfolio news – TaskHer feature in iNews article celebrating women in trade careers; Mobilise launch new app for carers; Maddyness speak to CAPSLOCK about the cyber skills gap; and much more.

The Ufi Ventures Team

Before we jump in, Ufi has taken the decision to stop all activity on X (formerly known as Twitter). You can follow Ufi Ventures on LinkedIn for regular updates on what we're up to.

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NEW REPORTS

VocTech market activity: Q2 2024

Our latest quarterly report, in collaboration with Tyton Partners, provides a nuanced look at the evolving market dynamics, including a look at challenges facing the UK’s new Labour government, along with strategic insights drawn from continental Europe and North America.

We explore 4 key framing questions:

• In such a rapidly changing field with limited evidence, how do investors discern between organisations that add value to their customers with AI and those that do not?
• How can developers and users of AI models for educational purposes mitigate risks such as bias and misinformation that could arise from the use of AI in educational and workplace settings?
• What might the best version of Skills England look like now that it has been announced?
• When might we see new, shorter forms of degrees become acceptable in Europe?

Our Q2 2024 report provides insight and inspiration to investors, innovators, and other stakeholders in the UK and beyond.

Ufi Ventures 2019-2024: Five years of investing in VocTech

Our five years of investing in VocTech report celebrates half a decade of supporting highly innovative and scalable ventures to grow their impact.

"I’m hugely proud to see how our ventures portfolio showcases the incredible range of people and technologies who, collectively, are transforming vocational learning, improving the lives of the millions of people they work with, as well as the capability of the companies they work for and UK as a whole."

- Rebecca Garrod-Waters, CEO at Ufi VocTech Trust

NEWS & USEFUL CONTENT

Catch-up: Ufi Ventures announce Challenge Fund

During this year's London EdTech Week, we announced our Ufi Ventures Challenge Fund, investing to support an economy in transition.

This new Fund is part of our VocTech Challenge: Skills for an Economy in Transition programme of activities to improve adult participation in learning. It is designed to support early-stage companies with an ambition to use vocational technology to make a positive and scalable impact on skills development for our economy in transition. Investment starts at £250k, with follow-on investment available.

Upcoming: 
Ufi Ventures speaking at BESAxBett event

Helen Gironi, Director of Ufi Ventures, will be speaking at BESAxBett: Empowering Emerging Education Sector Innovators event on 26th September.

The event will bring together leading investors, successful start-up founders, and industry experts to explore investment opportunities, share success stories, and discuss the future of education.

Helen will be providing investment insights alongside Pedro Vasconcelles, Director at Pearson Ventures. The discussion is aimed at start-ups looking for advice on finding investment and what investors are looking for.

Read: 
Ufi's Annual Review of 2023

Over the summer we published our Annual Review of 2023, looking back on some of the highlights and achievements from last year.

In 2023 we invested in five new companies and completed follow-on investments in five existing companies in our portfolio. This brings our portfolio to 17 highly innovative and scalable businesses, positively impacting more than a million people across the UK.

"I am immensely proud of the impact we've made in advancing adult learning in the UK, thanks to the dedication of our entire team. Together, I am confident that we can unlock the full potential of technology to get adults learning."

- Rebecca Garrod-Waters, CEO of Ufi

Event: GoodTech Ventures Showcase

Our strategic partners at GoodTech Ventures are hosting a showcase to celebrate the incredible journey of their founders who are building tech solutions for a stronger society.

The GoodTech Ventures Accelerator is delivered by Catch22 in partnership with Social Tech Trust and Unity Ventures with support from Ufi, Microsoft and the UK Government. The Accelerator programme seeks to support transformative tech solutions into social and public delivery.

The event will take place from 2pm to 5pm on 19th September at Techspace in London. 

PORTFOLIO NEWS

TaskHer receive praise in  iNews article

Ufi Ventures portfolio company TaskHer was featured in an article by iNews, celebrating the increase in women succeeding in trade careers.

TaskHer is an online booking platform helping homeowners book professional, skilled tradeswomen. Through their platform and career hub, TaskHer is helping professional tradeswomen win more work and encouraging more women to enter the skilled trades.

iNews spoke to some tradeswomen who are benefiting from TaskHer's platform and explain why there is a need for more women in trades careers.

Mobilise launch new community app for carers

Ufi portfolio company Mobilise has launched a new app to help carers engage, find support and connect with others.

Mobilise is a digital platform and community providing access to knowledge, expertise, and skills for the 13.5 million unpaid carers in the UK. They work with Local Authorities to help provide support to unpaid carers in their communities and empower them to thrive through online skills sharing and support.

Suzanne Bourne, Co-Founder and Head of Carer Support at Mobilise, talks about her own journey as a carer and why they have launched an app.

Assemble You win L&D Provider of the Year Award

Ufi portfolio company Assemble You won the L&D Provider of the Year Award at the British Training Awards by New Possible.

The British Training Awards celebrates organisations that are passionate about L&D's role in building a thriving workforce. With over 300 entries from organisations from across the UK, we're delighted to see that Assemble You were recognised for their impactful work. 

Assemble You create podcast-style audio courses to help screen-fatigued workers learn on the go and provide deskless frontline workers with a means to learn without a desktop screen.

Maddyness speak to CAPSLOCK about launching company and the cyber skills gap

Ufi Ventures portfolio company CAPSLOCK spoke to Maddyness as part of their founder questions series. 

Dr. Andrea Cullen, CEO and Co-founder of CAPSLOCK, answered questions including what the catalyst was for launching their company, how they are answering an unmet need and what they plan for the future. Dr Andrea said:

"We are directly addressing the UK’s cybersecurity talent shortage by offering accessible reskilling for all levels of cyber roles, from entry to senior. Organisations must understand that many employees don’t have the expertise, experience or financial means to open doors to a new career path. The sector needs to remove barriers for individuals who want to enter the cyber, no matter their academic background, work experience, or financial status."

MyPocketSkill win Santander X Global Challenge award

Ufi Ventures portfolio company MyPocketSkill won the Santander X Global Challenge Education, Employability and Entrepreneurship award.  

The MyPocketSkill platform helps support young people to earn money, establish savings goals and become more employable and financially capable. They won the Santander X Global Challenge award for their innovative solution that promotes access to education, improves employability and strengthens entrepreneurship.

WORK WITH US

Project and Partnerships Officer Maternity Cover

We're looking for an experienced Project and Partnerships Officer to work with Ufi as maternity cover on a 18 month fixed term contract. 

It’s an exciting time to join Ufi as we continue to increase the development and take up of great quality, engaging and inclusive digital tech for adult learners. The Project and Partnerships Officer will work closely with our Head of Grant Programmes and will help us fulfil our mission to harness the power of technology to improve skills for work.

Applications close 5pm on Thursday 12th September 2024.

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