Initiative highlights need for talent and encourages the industry to raise awareness of career opportunities in FinTech
At a time of increasing need for graduates with fintech expertise, the Spotcap Fintech Fellowship programme affords young talent with the opportunity to pursue studies in a fintech related field. Launching on 10th April, the Fellowship will provide one student per academic year with a £8K stipend towards their studies.
The fintech sector is one of the UK’s fastest growing sectors, adding more than £6.6 billion into the economy and attracting more than £500 million of investment. Its continued success is closely connected to access to talent, in the short- as well as long-term.
A recent survey by recruitment website Indeed revealed that 20 percent of top fintech job vacancies are left unfilled after 60 days. The data highlights an immediate need for managers, analysts and developers with financial and technical expertise.
The triggering of Article 50 brings further long-term uncertainty, compounding the issue of fintech’s access to talent. As negotiations start, more questions on how to secure a healthy talent pipeline are likely to be raised. Despite the agreements put in place between the UK and other European markets regarding movement of talent, it is certainly the case that the UK needs a robust base of skilled labour.
“The rising cost of graduate studies, combined with the UK’s impending exit from the European Union, could create real challenges when it comes to ensuring a strong and healthy talent pipeline,” said Niels Turfboer, managing director of Spotcap. We created the Spotcap Fellowship to raise awareness of these issues and encourage the UK fintech industry to get involved in attracting and supporting the development of talent.”
Devie Mohan, co-founder and CEO of Burnmark, a fintech research institute, joins the Fellowship’s judging panel. She continues:
“The UK government recognises the need for fintech related skills and initiatives. Indeed, supporting the development of these skills was announced in the Spring Budget and Digital Strategy. As an industry we should also step up and contribute. For the message to resonate, aspiring graduate students need to hear ‘we want you’ directly from fintech businesses as well.”
For more details on the fellowship, visit our dedicated site: https://www.spotcap.co.uk/fintech-fellowship/.
Spotcap provides flexible and accessible small business financing, allowing entrepreneurs to focus on what matters – their business. We developed our credit risk algorithm in-house and lend from our own balance-sheet.
Headquartered in Berlin Germany, Spotcap launched in Spain in September 2014 before expanding to the Netherlands and Australia in 2015, the UK in 2016 and New Zealand in 2017. The company is led by CEO and founder Jens Woloszczak and Niels Turfboer, who is the managing director of Benelux and UK.
The growing team currently consists of more than 100 employees. Spotcap is backed by investors including Rocket Internet, Finstar Financial Group, Access Industries, Holtzbrinck Ventures and Kreos Capital.
Read more about Spotcap: https://www.spotcap.co.uk/