iwoca offers up to £500,000 training pot to grow AI and data skills for UK SMEs and employees

• iwoca partners with Multiverse to offer a fund of up to £500,000 to both its employees and all UK SMEs 
• SMEs will be able to train staff in the latest AI learning and data skills using iwoca’s fund 

iwoca, one of Europe’s largest SME lenders, announces access to a £500,000 fund to help small businesses and employees build skills in artificial intelligence (AI) and data analytics. 

Partnering with learning provider Multiverse, iwoca can now transfer half of its unused apprenticeship levy (~£250,000) to support SME owners and their staff. According to the scheme’s policy, a maximum of half the levy can be given to SMEs with the remaining amount used to fund iwoca’s own cohort of apprenticeships or learning programmes for current staff. ‍

SIGN UP: This programme will officially launch with a webinar in January, offering SMEs an overview of the training opportunities, followed by course enrolment starting in March. 

This initiative focuses on helping small businesses upskill their teams in everything from machine learning to data analytics, providing them with the tech skills they need but often struggle to access or afford. Through specialised courses such as "AI-Powered Productivity", "Data & Insights for Business Decisions", and “AI for Business Value”, SMEs will be equipped with the tools to boost productivity and foster innovation. By covering the full cost of these training programmes, iwoca is enabling businesses to save tens of thousands of pounds, making cutting-edge digital skills accessible to small businesses and fuelling their growth in an increasingly AI-driven market.

‍Seema Desai, COO at iwoca, said: "This partnership with Multiverse is all about giving UK small businesses and their employees a real chance to gain AI and data skills which they can use to help their businesses thrive. We're excited to see SMEs nationwide getting access to the kind of cutting-edge training that's usually only available to larger companies."

‍Supporting SMEs in line with government upskilling goals

‍This apprenticeship programme aligns with government objectives to upskill the workforce and boost economic growth. As digital transformation accelerates, SMEs are increasingly relying on AI and data analytics to remain competitive.

‍Gary Eimerman, Chief Learning Officer at Multiverse, said: "Small businesses are at the heart of the UK economy, and we know their growth depends on having the right digital capabilities. By funding these apprenticeships, iwoca is helping its customers gain the tech and data skills they need to thrive."

• To register interest, SMEs need to sign up to January’s webinar here.