Ventures WorkerTech newsletter: September 2023 The latest update from Resolution Ventures 30 September 2023 by Louise Marston Louise Marston It’s been a busy summer here at Resolution Ventures. We’ve been pleased to complete four investments (more on those below and next month), and are looking forward to our first-ever Workertech conference in November. Sign up now to join us for a day of exploration and discussion on the future of better work. As always, if you’re working on a WorkerTech idea, or know someone who is, please get in touch. Louise Director of Ventures Resolution Foundation 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, angel investor and Chair of Superpower, and Sarah O’Connor, columnist at the Financial Times. Register here to attend in-person or online. Resolution Ventures’ invests in Mobilise We’re delighted to welcome Mobilise to Resolution Ventures’ investment portfolio as part of the Workertech Partnership. Mobilise is a community platform for unpaid carers where they can access support and advice, join a community of other carers and build resilience through coaching. Mobilise’s mission is to help carers thrive, a large part of which is supporting them to remain in or return to the labour market. Recent research from the Health Foundation found that 40% of carers under retirement age are not working as much as they would do, and carers providing more than 20 hours a week of care are more likely to live in low-income households than non-carers. This presents a big problem for low-income carers. Mobilise creates a safe space for these carers to meet others, seek guidance and advice, and access coaching. Mobilise is also addressing the wider issue of carer recognition at work. Through their thought leadership, they are raising awareness of the number of people who are doing unpaid care. Influencing government and employers to recognise the importance of this group for both health care services and productivity is a key challenge for Mobilise. We’re excited to be backing co-founders James Townsend and Suzanne Bourne, and to bring our internal knowledge on low-income caring workers to the table. We’re also delighted to be co-investing alongside Ufi Ventures and a group of brilliant angel investors. Latest insights from the Resolution Foundation Putting good work on the table This report from the Economy 2030 Inquiry proposes key reforms to labour market institutions in the UK to improve pay and conditions. Among the recommendations are a proposal for Good Work Agreements to improve standards in specific sectors, including social care, warehousing and cleaning. Creating a Good Jobs Economy in the UK This report by Dani Rodrik, Vidi Doshi and Huw Spencer reviews how a Good Jobs Economy, previously described by Professor Rodrik for the US, could be implemented in the UK. Watch here to see Dani Rodrik’s lecture discussing the paper at our event. From safety net to springboard This paper proposes an amended unemployment insurance scheme that could protect living standards and boost economic growth, building on examples from other countries such as Denmark. WorkerTech stories CIPD have taken a look at the scale and the nature of the UK gig economy, via the Labour Force Survey. They report that just under half a million people worked in the gig economy at the end of 2021, and around one-fifth of those said this was their main source of income. Catch 22 are piloting a pre-employment programme for 1,000 people to move into energy transition careers. The Institute for the Future of Work are producing some great reports as part of their Nuffield-funded Pissarides Review into The Future of Work and Wellbeing. Their latest report surveys 1000 firms to look at their adoption of AI and the impact on jobs and workers. They show that adoption of automation technologies is rapid across firms, and that engaging workers can lead to more successful technology adoption. 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. Co-operatives UK is holding a Co-op hackathon on 19-20 October to bring together tech co-operators to collaboratively develop digital solutions to support the UK co-op movement. Book your place now. Ufi VocTech Trust has their Week of VocTech from 13th-17th November, with a range of events – watch this space for more details of the events happening across the week. Our funders Trust for London and Ufi VocTech Trust are both looking for new Trustees.
