£50m investment plans announced
Ufi Charitable Trust this morning announced how it intends to spend the £50m endowment fund amassed from the sale of learndirect.
Speaking at an event to mark the official launch of the trust, Ufi’s new chair Ray Barnes said the funds will be used to fund projects that can transform vocational adult learning through technology.
“Ufi Charitable Trust aims to act as a catalyst, funding selected projects which will deliver permanent and radical transformation in vocational learning and training,” he said.
“We want to liberate learning from the current limiting requirement for face-to-face interaction, harnessing technology to reach much greater numbers, with greater quality learning outcomes – while simultaneously cutting time and cost requirements for providers.”
The launch event, at Wellcome Collection in London, featured a panel-based Q&A session chaired by BBC technology correspondent Rory Cellan-Jones.
The panel included Pearson UK president Rod Bristow, industry head of education, non-profit and government for Google Joel Lohrey, people vice president for McDonalds Jez Langhorn and the Institute for Learning’s chief executive Toni Fazaeli.
“It was great to see so many people at our launch,” says Ray Barnes. “Ufi Charitable Trust has been a long time in the planning and it was fantastic to share those plans with such a distinguished group of people."
“Now that the launch is out the way the real hard work can begin. Our ambition is to create a step change in adult education and this is the first in many steps along the path towards achieving that.”
Press play to watch a recording of the launch event.