Escalate was the lead post in Paul Fain's weekly newsletter, The Job.
A full Q&A was published in WorkShift.
Washington, D.C. (Nov. 7, 2022) — Escalate, a Techstars portfolio company, announced today that they have been accepted into the next cohort of the incredibly competitive Techstars Workforce Development Accelerator. Escalate supports companies to leverage fully-tax deductible tuition dollars to increase employee retention and the internal pool of skilled middle-wage workers — a benefit that provides employees with weekly, asynchronous, online training that leads to industry-recognized certifications and upward economic mobility.
“We know that increasing equity and battling attrition in large corporations can only happen if you fix the business problem,” said Sean Segal, Escalate CEO and co-founder. “We’re solving turnover for corporate America and at the same time, we’re making a positive impact on their employees.”
As a member of a Techstars cohort, Escalate will gain valuable insights and knowledge: • experience a three-month intensive program, surrounded by mentors, corporate partners, investors, and alumni, • advance fundraising efforts through workshops and curated resources, • learn to scale operations to serve front-line workers across the country.
“My technical skillset and passion for product development fueled my interest to find solutions for this unique model,” said Juan Lopez, Escalate’s Head of Product. “I want to do my part to enable growth in others, especially those who don’t have access to traditional education, and create a platform that provides high-touch support in a scalable environment.”
There are more than 10 million unfilled job openings in the U.S., and approximately 75% of employers say they can’t hire or promote people with the requisite skillsets to fill those jobs. At the same time, 40% of Americans are stuck in low-wage jobs with little or no prospect of acquiring the skills they need for promotion.
“Techstars has fast-tracked access to additional support mechanisms that we need to launch our pilot program in March,” said Sienna Daniel, President, and co-founder. “We’re excited that we have commitments to launch pilots with two major corporations, and we are confident that we will impact both retention for companies and upward economic mobility for employees in our first year of operation. It’s a huge accomplishment.”
Techstars worldwide network helps entrepreneurs succeed. Founded in 2006, its mission is to enable every person on the planet to contribute to, and benefit from, the success of entrepreneurs. In addition to operating accelerator programs and venture capital funds, they connect startups, investors, corporations, and cities to help build thriving startup communities. Techstars has invested in more than 2,200 companies with a combined market cap valuation of $29 billion.
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Minimize turnover. Maximize equity.
Escalate, a Techstars portfolio company, is dedicated to the belief that all entry-level workers deserve sustainable pay and the pride of a successful career.