Money management FinTech Wise has established partnerships that aim to improve diversity and social mobility within the next generation of workers.
As part of its efforts, the company is looking to support underrepresented university students studying STEM subjects. It will support three students from across the UK that are going into the third year of their studies. Money will be provided to help fund their living expenses while finishing their degree.
Wise has also become the lead sponsor for the UK’s first ever National Scholarships Week. This program is led by Blackbullion, a provider of personal finance support to students. The goal of the National Scholarships Week is to transform the UK scholarship space and encourage businesses to positively impact young people’s futures.
A study from Blackbullion claims that 76% of students are worried that the cost-of-living crisis will have a negative impact on their final degree result.
Wise will support students from underrepresented communities in order to improve the growth and diversity of people entering the technology field. The scholarship is structured to help those most in need of financial support so they can complete their course.
The second partnership is with The Talent Foundry and will support young people from underserved communities to develop valuable employment skills, preparing them for the world of work.
As part of this program, sixth form students in schools around London will take part in eight sessions designed to help them develop key business skills from creating a business plan, to teamwork and public speaking.
This will be followed by a bootcamp at Wise’s London office, where Wise will host a day of entrepreneurship talks, mentorship, and advice on different career opportunities in technology. Wise head of early careers Libby Cook said, “By encouraging young students in London to think of a
career in business or entrepreneurship, as well as supporting STEM students in the UK to finish their technical degrees, we hope to inspire and support young people to consider a career in tech.
“We know that this work needs to come well before people are looking for their first job, which is why we have partnered with Blackbullion and The Talent Foundry to reach the next generation. We can’t wait to meet all the students involved in both initiatives, and help them to build the future career they deserve.”
Last year, Wise secured £300m through a syndicated debt facility. Silicon Valley Bank UK served as the lead arranger of the syndication, with six other banks participating.
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