Virgin Media O2 is supporting the next generation of STEM talent with the creation of a new £1m fund to help charities, local authorities, small businesses and social enterprises train apprentices at no cost — removing financial and structural barriers preventing investment in early careers talent.
The fund will specifically focus on supporting women and individuals from global minority backgrounds enter STEM careers, helping them to progress and build a diverse talent pipeline and future leaders.
This initiative will allow organisations to access Virgin Media O2’s apprenticeship levy fund, using this to cover the full cost of apprenticeship training for eligible roles.
Developed in response to significant barriers identified in recent research, the fund will provide the full cost of training for eligible apprenticeships, removing any financial barriers.
More than 3m SMEs say hiring apprentices is simply not financially viable right now, with 35% citing cost pressure, 30% complexity of training programmes and over 800,000 (15%) saying insufficient levy funds are their key challenges.
With nearly four in five employers saying they would be more likely to hire apprentices if additional financial support was available, the scheme could unlock hundreds of retraining opportunities for young people and career-changers.
Apprenticeship levy rules allow large employers to share up to 50% of their levy funds with other organisations.
Virgin Media O2 is proactively using these funds to empower organisations looking to hire apprentices but struggling with the upfront cost or complex process, giving them the change to apply to draw down funding from its levy pot to fully cover the cost of apprenticeship training.
Philipp Wohland, Chief People Officer, Virgin Media O2 said: “We’re committed to backing the next generation of talent and creating opportunities for people to access the value of apprenticeships.
“By creating a £1m fund to turbocharge these schemes, we’re investing in people as they build their skills and helping create a more inclusive, skilled workforce. We know apprenticeships change lives, and we’re opening doors and backing the next generation to create meaningful, long-term opportunities in the communities we serve."
Opportunities are available in areas such as digital, engineering, and data analysis — with an emphasis on social impact, inclusion, and skills for the future.