Challenge overview

Key dates, scaling requirements and funding

Applicants to the Challenge can apply to one of two streams, which are explained below. Six semi-finalists, three finalists and one winner will be selected from each stream.

Job Recovery Stream

This stream supports solutions that connect younger workers or those in (or who have recently lost) low-paid or insecure work into open jobs that match their skill sets. To help make these connections to live jobs, we expect solutions in this stream may also provide tailored learning, training, or advice to people seeking work.

Financial Recovery Stream

This stream supports solutions that help younger workers or those in (or who have recently lost) low-paid or insecure work access financial assistance more easily, manage their cash flow or, where necessary, access affordable, responsible credit.

The stages of the Challenge

Challenge prizes take a stage-gated approach to releasing funding and developing solutions. The Rapid Recovery Challenge will have three stages: semi-finalist, finalist and winner. A focus of the Challenge is to help scale solutions; please scroll down for further details.

A timeline showing how the scaling aspect of the Challenge will work

Scaling

  • On entry, solutions should (at minimum) be well-functioning prototypes that have been piloted with at least 1,000 users. These 1,000 users do not need to be composed of the Challenge’s target end users: younger workers and those in (or recently out of) low-paid or insecure work. At future stages, users should be composed of the Challenge’s target end users
  • During the semi-finalist stage (circa four months), 12 participants will adapt or develop their solutions and build credible, evidenced plans for how they would scale to 10,000+ users
  • During the finalist stage (circa four months), the remaining six participants will implement their plan to scale to at least 10,000 users and build credible, evidenced plans for how they would scale to a further 50,000 users by 2023
  • The two winners of the Challenge will be expected to action their scaling plans using funding from their final award
Rapid Recovery timeline image

Funding

  • In December 2020, 12 semi-finalists (six in each stream) will each receive £125k
  • In May 2021, six finalists (three in each stream) will each receive £150k
  • In September 2021, two winners (one in each stream) will each receive £200k

Please note...

  • To support the most promising innovations from the not-for-profit* sector, at least six semi-finalist awards (£125k) will be made to not-for-profit organisations in each stream. And, in the next stage, at least two finalist awards (£150k) will be made to not-for-profit organisations for solutions in either stream.
  • To support younger workers, at least one semi-finalist award (£125k) will be made in the Financial Recovery Stream to support a solution directed toward young people aged 16-24. This award is funded by Money and Pension Service. This is part of the UK Strategy for Financial Wellbeing
  • You must select which stream of the Challenge you are applying for: Job Recovery or Financial Recovery. However, please note that you are able to enter into both streams separately and that solutions that involve elements of both streams are also welcome.
  • Please note that the Rapid Recovery Challenge is not accepting applications for products aimed at business to business staff redeployment.

 

*For the purpose of this challenge, not-for-profit organisations are independent organisations whose purpose and legal structures require they not make a private profit for directors, members or shareholders. These organisations will likely be registered charities, community interest companies or companies limited by guarantee with restrictions on private profit distribution.  

Meet with the team

We are hosting two information webinars, which a chance to hear more about the Challenge and to ask the team any questions you have. These are taking place on the following two dates:

We are also offering 15-minute chats with a member of the Rapid Recovery team, which is an opportunity for us to hear more about your idea and answer any questions – book your slot if you want to chat with us.

Find out more about the Challenge