Bank awards $10M to projects building future-ready workforce

The grants aim to empower people in the new economy

BY HRD 26 Oct. 2018

Ten business visionaries have been awarded a grant of $1M each from North American bank TD to help them scale their solutions for building the workforce of the future.

The inaugural program called TD Ready Challenge aims to seed initiatives designed to improve income stability and prepare workers in Canada and the US for the new digital economy, the company said.

The recipients will use their grant toward:

• Helping workers transform existing skills and build new ones

• Reducing barriers to STEM training for underrepresented groups and

• Harnessing the power of artificial intelligence

The goal of the program is to provide new opportunities to people “who have the greatest risk of falling behind due to rapid technological advancement,” TD said.

More than 200 groups submitted an entry. The 10 grantees include groups that focus on digital literacy, financial literacy, employer-driven degree programs, and career guidance in the new economy, among other initiatives.

“The changing workplace presents new opportunities for a prosperous economy,” said TD Bank Group CEO Bharat Masrani. “But we must grow in ways that provide everyone with a chance to succeed.”

“Fortunately, there is no shortage of innovative ideas to support greater income stability – ideas that can open doors and help people feel more confident in their future,” Masrani said.

The TD Ready Challenge is part of TD’s $1BN multi-year commitment to give back to the community.