When we wrote the 2022 version of this report, we were hopeful that we were moving towards a “new normal” – on a path towards reimagining and reassembling the components of successful individual working lives and an improving society after the ravages of the COVID-19 pandemic. Sadly, the year was not what we expected.
The changes driven by the Fourth Industrial Revolution, and accelerated by COVID-19, continue. Most significantly, many economies continue to face a superficially paradoxical situation of job losses and economic slowdown accompanied by labour market shortages. Looking below the surface, this seems to be driven by evermore acute mismatches between the capabilities required by employers and the skills available in the labour force. It has also been exacerbated by the many who have chosen not to continue working, or (worst of all) feel that trying to find a job is simply not worth it.
In this report from Tyton Partners, commissioned by Ufi Ventures, we provide a review of the frameworks, trends, and analyses we work with for investing in the Future of Workforce Development (Vocational Technology and EdTech for adult learners); including an overview of the current market landscape and explanation for how it informs our investment thesis.
We hope this report provides some inspiration to investors, innovators, and other stakeholders in the UK and beyond.