The country has been dealing with the pandemic for the last 100 days. This has led to millions of people being unemployed. The nonprofit, New Profit is trying to fix that and help get people back to work. New Profit has spent years holding competitions to solve the world’s biggest challenges.
New Profit looking for innovative ways to get the unemployed back to work
GeekWire reports the nonprofit launched the XPRIZE Rapid Reskilling with the goal of reinventing job training and to reemploy the hardest hit communities. The contest seeks the best ways to provide workers employment. The competition runs for 30-months. Teaching new job skills will be important for those displaced because of the pandemic’s financial effects.
The nonprofit’s Rapid Reskilling is part of their much larger challenge helping prepare Americans from under-invested communities for the workforce by 2025. XPRIZE is calling for teams to find new ways to train and retain workers in a variety of occupations. Rapid Reskilling wants have 40 percent of the teams made up of people of color.
XPRIZE competitors face uphill battle to do better than the industry standards
Teams need to be able show that their reskilling techniques can be completed in half the time. Retraining will focus on occupations that require only a high school diploma or a post-secondary certificate. The winning team will need to be able to train 500 individuals in two months or less and place as many of these workers in new jobs within two months.
Judges will review the results in 2022 and make their decision in 2023. The first place team will receive $1.5 million, while the second and third place teams will split $500,000. Another $3 million will be given among the semifinalists in the form of prizes.
New Profit is doing good helping the country recover economically and by helping those unemployed find new jobs. Share your thoughts in the comment section below.