We are ecstatic to announce that Udrafter has fought off competition from businesses through out the UK to be named as one of six finalists in the Nesta, Rapid Recovery Challenge. With support from JPMorgan Chase and the Money and Pensions Service, the aim of the award is focused on supporting and scaling solutions from organisations and charities that will improve the job prospects and financial situation of people across the UK.
To reach this stage of the award founders Luke and Daryll Morrow have been working tirelessly since October '20 to meet the criteria which was focused on providing an achievable proposal on how they plan to scale Udrafter but more importantly what impact this will have for businesses and students using the platform.
However, now the real challenge begins. As finalists Udrafter will receive a significant financial investment to allow then to achieve their targets outlined in the recent proposal.
"Being named as 1 of 6 finalists in the NESTA Rapid Recovery Challenge is a real honour and privilege for everyone at Udrafter. We have worked exceptionally hard to get to this point. Covid-19 has had a dramatic negative effect on youth employment and Udrafter is on a mission to ensure the class of 20/21 is not left behind by giving them access to paid work experience projects. The support from NESTA will allow us to implement new functionality within the platform, concentrating on distribution which will give us the ability to scale and get Udrafter into the hands of thousands of students, graduates and employers." - Daryll Morrow, Udrafter Co-Founder
New research from innovation foundation, Nesta, finds 18-24 year olds are twice as likely to have been made redundant or furloughed than over 45s and similarly those earning between £20,000-30,000 a year are twice as likely as those earning over £30,000 to be in this situation. The research also found that four in ten (40%) people who are currently out of work have been unemployed for over six months, with some groups of society particularly affected in the longer term.
Off the back of this The Rapid Recovery Challenge was established. Funded by Nesta with support from JPMorgan Chase and the Money and Pensions Service, the aim of the award is focused on supporting and scaling solutions from organisations and charities that will improve the job prospects and financial situation of people across the UK, from vulnerable to marginalised groups.
“The jobs market has been entirely upended by the pandemic and although restrictions are starting to lift, there are still a large number of people who are furloughed or out of work - particularly among certain groups of society. There is an urgent need to get people back into work as soon as possible and prevent this becoming entrenched with all the mental and financial consequences that job insecurity brings. The Rapid Recovery Challenge’s goal is to help people find new work and work towards a positive financial future."
“While we have seen numerous innovations that aim to support those whose jobs and money have been impacted by the current crisis, we need to ensure that the solutions can reach those who need them most - quickly. We will be supporting the six finalists to scale their solutions at speed so they can reach and support as many people as possible, which in turn will provide both financial and job stability for many.” Tris Dyson, Managing Director, Nesta Challenges
Nesta is an innovation foundation. For us, innovation means turning bold ideas into reality and changing lives for the better. We use our expertise, skills and funding in areas where there are big challenges facing society. We've spent over 20 years working out the best ways to make change happen through research and experimenting, and we've applied that to our work in innovation policy, health, education, government innovation and the creative economy and arts.
Within Nesta, Nesta Challenges exists to design and run challenge prizes that help solve pressing problems that lack solutions. We shine a spotlight where it matters and incentivise people to solve these issues. We are independent supporters of change to help communities thrive and inspire the best placed, most diverse groups of people around the world to take action.
We support the boldest and bravest ideas to become real, and seed long term change to advance society and build a better future for everyone. We are part of the innovation foundation, Nesta. We are challengers. We are innovators. We are game changers.