Ventures WorkerTech newsletter: October 2023 The latest update from Resolution Ventures 31 October 2023 by Emma Selinger Emma Selinger As promised in last month’s newsletter, we have three more investments to announce. We’re excited to welcome these three companies and their brilliant founding teams to our portfolio: 🍽️ Slinger – a platform for hospitality workers to find shifts at a time and place that suits them, and that are guaranteed to pay at least the Real London Living Wage. We’re excited to work with founder, Theo-Lee Houston, as he uses his extensive knowledge of the hospitality industry to improve choice for workers. ⚖️ Valla – a legal tech platform that offers legal support at low cost to people who have experienced workplace violations. Valla has the potential to support thousands of low-paid workers to address injustice at work through their user-friendly platform. 💪 Organise – a platform that gives workers the confidence and tools to campaign for change at work. We’re excited to build on their success to date which includes securing pay rises and additional rights for workers across low-paid sectors. We also have two events coming up – our first WorkerTech Conference on 21st November and a webinar on selling tech to public sector clients on 14th November. More details below! As always, if you’re working on a WorkerTech idea, or know someone who is, please get in touch. Emma Ventures Manager Resolution Foundation The Resolution Foundation is hosting 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. The day will involve panels and breakout discussions on topics including: The growth of tech-powered communities to enhance worker power and worker choice New routes to inclusive recruitment, training and skills The role of impact investing in catalysing change in the world of work Register here to attend in-person or online. Join us and Ufi Ventures online for a candid discussion as we explore what it takes to sell learning technology into the public sector, sharing insights from founders and organisations who have made it work. Attendees will leave with new insights from individuals succeeding in the sector and an understanding of: use cases for business-to-government (B2G) work and different routes to market policy and political considerations affecting tenders the rhythm of B2G revenue Speakers include: Claudine Adeyemi, Founder and CEO of Earlybird James Townsend, Founder and CEO of Mobilise Hannah Kirkbride, Founder and CEO of Career Matters Register to attend. Latest insights from the Resolution Foundation The Real Living Wage – the Real Living wage has increased to £12.00 in the UK and £13.15 in London, rising due to increasing inflation. This paper outlines how Resolution Foundation calculates these rates based on the best available evidence about living standards and costs. Rates of change – this paper calls for increasing benefits inline with inflation next year. Analysis shows that freezing benefits in 2024-25 would drive up inequality and push 400,000 more children into poverty next year. Learning to Grow – this analysis points to the growing importance of skills in the economy that are typically acquired with longer formal education. We need a sustained improvement of the education of workers to use in strategic growth sectors such as life sciences, technology and financial services. WorkerTech stories New research from the Learning and Work Institute found that switching careers can come with an initial pay-cut of over £3000, despite higher long term earning potential. They have called for better financial and careers support for those wishing to change careers. Rest of World reported that gig workers in Latin America are turning to songwriting to express their unhappiness with working conditions, and also as a way to earn extra income from streaming alongside driving and delivering. Some tracks have over 500,000 views, but there’s still the question of how this will translate into better conditions for gig workers. Our WorkerTech Partner, Ufi VocTech Trust has just announced a new initiative, GoodTech Ventures. A community and accelerator programme will support early-stage startups innovating in social and public service delivery. Watch this space for more details about how to get involved. 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. Next week is Living Wage Week, and the Living Wage Foundation is hosting a series of online and in-person events to explore the importance of the Real Living Wage in the UK. Ufi VocTech Trust is hosting its annual Week of VocTech from 13th-17th November, with a range of events exploring the role of tech in vocational skills in the UK. Register for Allia’s Impact Demo Day on 28th November to hear from their most recent cohort of impact founders as they pitch for investment and partnerships.