Ventures WorkerTech newsletter: December 2022 The latest update from Resolution Ventures 21 December 2022 by Emma Selinger Emma Selinger As we come to the end of the year we’ve been reflecting on our achievements in 2022, so in this edition you’ll find our top 10 WorkerTech highlights of the year. Do you have a WorkerTech idea that you’re developing for 2023? Book in a time to chat in January to see how we can work together. In the meantime have a lovely festive period, however you are celebrating! Emma Ventures Manager Resolution Ventures ⭐ WorkerTech top 10 in 2022 ⭐ (in no particular order!) We hosted a packed WorkerTech meetup in November with Bethnal Green Ventures, which you can read about in the November edition. Three new WorkerTech ventures, Ikigai Data, CareerEar and RECit joined our portfolio, and we’ll be welcoming four more early next year. We doubled down on impact measurement with our impact and learning partner, Nick Andreou from Impact Edge, who has worked with our team and founders to develop impact strategies. We joined some great impact investing and tech for good communities to improve our knowledge sharing including VentureESG, Impact VC and Impact Venture Builder Network. Our portfolio ventures, TaskHer and Talia launched their products in 2022. You can now book a tradeswomen via TaskHer’s website, and plan your pension using Talia’s app. Breakroom, one of our earliest investments, reached a huge 200,000 completed surveys about the quality of frontline hourly work spanning 1,500 employers. Ufi Ventures joined us at our offices in November to host a panel event on impact investing in technology for skills and employment during Ufi’s Week of VocTech, and we were joined by Greenworkx, TaskHer and Beringea. We spoke about WorkerTech at roundtables and events across innovation, investment and policymaking sectors including Zebras Unite, Well_Lab, Greater London Authority, Joseph Rowntree Foundation, Royal Society of Arts and City of London. We reviewed our lived experience strategy and are now working with Shift Design to make sure that people with experience of low-paid or precarious work are supported to build and contribute to ventures. We now have more readers than ever with 2,300 of you subscribing to this newsletter – if you have a WorkerTech story to tell and would like to guest edit for a month in 2023 let me know! Latest insights from the Resolution Foundation Train in vain? – an assessment of how the skills needed in the UK labour market have changed over past decades, and how well placed our system of training – and particularly on-the-job training – is to help us adapt to these changes. In-work training has reduced 5% over the past 20 years, but there is much we can learn from other countries to improve our own skills and training strategy. Coming soon – in January our research team will be publishing a paper on social care. Using qualitative and quantitative insights, the paper will explore how to improve the enforcement of employment rights in the sector, and how to improve the quality of social care jobs overall. WorkerTech stories Research from the Tony Blair Institute found that workers on digital labour platforms perceive the quality of their work through three lenses: control, flexibility and decent income. The report calls for governments to regulate according to these three principles by empowering workers, encouraging competition and extending the benefits of platform work. Ufi Ventures published a piece on skill development in the gig economy, finding that very few companies exist that offer training for platform workers. While many ventures are building infrastructure around platform work such as insurance or job stacking, skill development is yet to be addressed. Get involved Apply for direct investment from Resolution Ventures. We accept applications from WorkerTech ventures on a rolling basis. Or you can book a slot in our office hours for an initial conversation. There’s one more day to apply for Zinc’s next cohort of venture builders which will focus on transforming financial resilience. Applications for this round will close on 22nd December, but more there will be more opportunities next year too to join the programme. Grants of up to £60,000 are available from Ufi VocTech Trust for early-stage ideas with the potential to transform adult learning for work using technology. Applications open on 11th January and you can book a pre-application workshop to find out more. If you’re as US-based WorkerTech founder, you can apply for the Worker’s Lab Innovation Fund 2022/23. Innovators will receive a monthly stipend and support to develop their worker-focused ideas. Applications are now open and will closed in March 2023.
