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As the UK government’s Kickstart scheme comes to an end, The Fintech Power 50 has hailed its success in helping to launch early careers within the fintech community.
When the pandemic sparked widespread job insecurity, the UK Government provided a beacon of hope with its Kickstart Scheme for young people on Universal Credit. The £2billion scheme was run by the Department for Work and Pensions (DWP) who worked with gateway providers to help employers create jobs for 16- to 24-year-olds.
The Fintech Power 50 became one of the first gateway agencies approved by the DWP to distribute funding and, until the scheme closed in August, has helped connect fintech firms across the UK with young talent.
The programme offered a £1,500 grant for companies to host a six-month placement for ‘Kickstarters’ with their wages paid in full. Wages were paid for a 25-hour working week at national minimum wage, including national insurance and pension contributions.
Sian Morris, head of talent at The Fintech Power 50 said: “The Fintech Power 50 was pleased to be participating in the Kickstart Scheme as a Government Gateway to help launch early careers within the innovative fintech community across 50 participating companies, helping to place 140 previously unemployed young people between the ages of 16-24 years old working in various exciting remote and on-site roles nationwide.
“Many of the various types of placement roles were junior marketing manager, customer success assistant, digital marketing assistant, junior project coordinator, junior support technician, junior data analyst, junior software engineer, junior business analyst, junior web designer, sales admin, account executive, finance and admin assistant.”
The scheme’s successOver £1million in grants received and paid out to participating KickstartersA total of 50 companies took part in hosting six months placements hiring 140 young, previously unemployed people in to the government funded Kickstart scheme58…..
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