Nesta names 14 organisations to benefit from Covid-19 recovery scheme

Ella Doyle
Wednesday, December 9, 2020

Employment innovation charity Nesta has named a raft of organisations supporting young people to find work which will benefit from a £125,000 share of its Covid-19 recovery fund.

More than half of 18- to 24-year-olds have been financially impacted by the pandemic, Nesta says. Picture: Adobe Stock
More than half of 18- to 24-year-olds have been financially impacted by the pandemic, Nesta says. Picture: Adobe Stock

The fund is part of Nesta’s £3m Rapid Recovery Challenge, which was set up to further the impact of organisations offering financial and employment support to young people and marginalised groups across the UK. Its aim is for these platforms to reach one million people by 2023.  

Young people are among those worst hit financially by Covid-19, figures from the Office for National Statistics show.

Research by Nesta revealed that almost 50 per cent of 18-to 24-year-olds reported their finances had suffered due to the latest national lockdown compared with 30 per cent of the overall UK population.

The Rapid Recovery Challenge, support by grants from the Money and Pensions Service (MaPS), JPMorgan Chase and the Department for Work and Pensions (DWP) part-funded will fund 14 organisations in total, including: 

  • UK Youth and Snook, which supplies an innovative range of digital tools to educate young people about budgeting, borrowing, banking and avoiding scams, and will link young people with a trusted youth worker in their community.   

  • TryTech, which enables young people in insecure or low-paid jobs to access free support to secure knowledge-based roles in tech startups.  

  • Hastee, a holistic financial health platform that gives workers a complete view of current earnings and provides personalised financial wellbeing content, which will be free for 16- to 24-year-olds. 

Tris Dyson, managing director at Nesta Challenges said: “The Rapid Recovery Challenge’s goal is to ensure that millions more do not find themselves out of work, out of pocket and out of prospects.”

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