Crisis calls for innovation. The public health crisis and economic shock brought on by the COVID-19 pandemic—and the acute impact the upheaval on both fronts has had on the most vulnerable members of our society—calls for innovation now more than ever.
Historically, traditional investors funding workforce innovations have overlooked the needs of low- and middle-skill workers, instead prioritizing solutions designed to deliver advanced training to white-collar workers in higher-paying professions. Over time, this has exacerbated already significant inequities in our workforce, leaving millions of low- and middle-skill workers on the sidelines of technological innovation. In the current economic downturn, these economic inequalities and disparities will likely deepen and leave millions more without access to quality employment opportunities.
This is a momentous challenge. But it also represents a significant opportunity to have a meaningful social impact by investing in technologies that help underserved adults develop valuable skills and gain access to meaningful work.
ETF@JFFLabs, the investment arm of JFF, is meeting this opportunity by providing financing to entrepreneurs who are building scalable, high-growth companies that assist underserved adult learners—those overlooked by traditional workforce and education systems, technologies, and market players.
We are proud to have partnered with catalytic sources of capital to support our work. One key partner is ECMC Foundation. With their support, we made our first set of investments in high-impact startups—Cell-Ed, Climb Credit, Embodied Labs, Nepris, NorthStar, SkillSmart, PAIRIN, and CareAcademy—all of which are creating a more equitable future of work. To celebrate its support of these efforts, the Foundation produced a video that profiles ETF@JFFLabs and our portfolio companies. Watch it here:
