Ventures WorkerTech newsletter: July 2023 The latest update from Resolution Ventures 31 July 2023 by Emma Selinger Emma Selinger Are you free on 21st November? I’d love you to join us at our first-ever WorkerTech Conference in central London. We’ll be exploring the relationship between impact investors and start-ups, and examining how mission-driven organisations – in collaboration with foundations, researchers, unions and businesses – can use data and technology to benefit low-paid workers and those in precarious work. Register here and read more about the event below! As always, if you’re working on a WorkerTech idea or want to know more about our work, please get in touch. Emma Ventures Manager Resolution Ventures WorkerTech Conference Time: 9am – 6pm, 21st November 2023 Location: Events @ No 6, Alie Street, London E1 8AN (main panel sessions will be live streamed) Registration link: https://rb.gy/s8eus In 2020 the Resolution Foundation brought together leading foundations and social investors to launch the Workertech Partnership — the UK’s first-ever worker-focused innovation fund — backed by Joseph Rowntree Foundation, Ufi VocTech Trust, Friends Provident Foundation, Accenture UK, Trust for London, and Bethnal Green Ventures. The Foundation is building on this partnership to host its first ever WorkerTech Conference in central London. We are bringing together over 100 founders, innovators, researchers, funders and investors to share learning and identify new paths to achieving better work in the UK. We’re excited to have some brilliant speakers confirmed, including Sherry Coutu CBE, Chair of Workfinder and Sarah O’Connor, employment columnist at the Financial Times. Latest insights from the Resolution Foundation Creating a Good-Jobs economy in the UK – an analysis of four key pillars that can secure good jobs in the UK: active labour market policies, regional industrial policy, innovation policy and international trade to enable high standards of domestic labour. Flexicurity and the future of work – flexicurity is a job market model characterised by relaxed hiring and firing procedures, high social security levels and excellent support finding new jobs. This essay explores how we can draw on this model to improve the labour market in the UK in the context of economic change. Sharing the benefits – the UK has been in a period of relative economic decline, with intense pressure on those on low-to-middle incomes. This report argues that productivity growth, in combination with redistribution and predistribution strategies, are essential to improving wage growth in the UK. WorkerTech stories Rest of World ran a generative AI experiment with four freelancers to highlight the potential, and also the pitfalls, of AI-related work. While there is an opportunity to increase productivity and use generative AI to enhance work, workers fear the loss of key creative and relationship-centered skills in an increasingly automated world. On a similar theme, the Institute for the Future of Work published Reframing Automation: a new model for anticipating risks and impacts. The report argues that technological advancement of work is not a foregone conclusion, but something that can be shaped by ideas, whether good or bad. It is critical to identify the points at which good ideas can create a fairer future of work alongside technology. The Good Jobs Project launched its first report on how to support people from marginalised communities into good jobs. The report calls for more collaboration between businesses on their recruitment approaches, government incentives for inclusive recruitment, and investor pressure through ESG reporting. According to British Business Bank’s latest research on diversity in the venture capital world, there are three clear actions that we need to take. First, focus on diversity at the top to increase investment in underserved founders. Second, actively seek out diverse founders for investment pipelines. Thirdly, commit to measuring and sharing data on the diversity of fund staff, investment pipeline and portfolio founders. 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. Future of Work VC, NoBa Capital, is hosting a pitching competition in September for UK based pre-seed and seed stage businesses. Apply to pitch by August 11th. Zinc and colortintech have partnered to host an event for new startup founders on the different type of investment available, and where to get them. Register to join on 3rd August at Euston House.
