Atom Bank Commits Significant Funding to Boost Youth University Access
Atom Bank, the Newcastle-based digital bank, has announced a substantial investment exceeding £13,000 aimed at assisting young people from underprivileged backgrounds in gaining admission to leading universities. This initiative is part of the bank's broader strategy to nurture the next generation of innovators and leaders across the North East.
Atom Futures Fund: Financial Incentives for Higher Education
In partnership with County Durham charity Point North, Atom Bank operates the Atom Futures Fund, which specifically targets sixth form students. The programme offers a £250 financial incentive to eligible Year 13 students, with an additional £1,000 granted to those who receive and accept an offer from a Russell Group university.
To date, the fund has supported 13 candidates with the initial grant, and eight young people have each received the further £1,000 sum. Looking ahead, Atom Bank plans to broaden the remit of the Futures Fund, aiming to provide up to 20 initial and further grants. Applications for this expanded programme are set to open shortly.
Expanding Opportunities: Women in Tech and Internships
Beyond the Futures Fund, Atom Bank is actively involved in the AMI Durham University Women in Tech scholars scheme. This programme supports two female recipients from low-income backgrounds, providing them with a grant of £4,000 per year for all three years of their Computer Science or related joint-honours courses at Durham University.
Additionally, through the EY Foundation Smart Futures initiative, Atom Bank offers a two-week internship to Year 12 students from low-income backgrounds seeking experience before making post-18 choices. The bank has committed to expanding these fully funded places, which include a stipend, from six to eight participants.
Voices from the Programme: Impact and Gratitude
Asli Ozgur, a successful AMI scholar recipient, shared her experience: "The AMI scholarship has enabled me to concentrate fully on my academic goals and make the most of my university experience. Atom bank’s support has made a meaningful difference to my journey, and I’m incredibly grateful for the opportunity. I’m excited to continue developing my skills and hope to inspire other students to believe in their potential and strive for success in their chosen fields."
Strategic Vision: Investing in Future Talent
Edward Twiddy, ESG director at Atom Bank, emphasised the bank's commitment: "Our investment in the Atom Futures Fund and our other programmes is a direct commitment to supporting the next generation of innovators and leaders. We are proud to back early career talent across the North East, ensuring a strong future pipeline of skills for Atom and a deepening talent pool across the region."
He added that the latest recipients of the Women in Tech Scholarships are already integrated into their courses at Durham University. The bank is also increasing funding for the Smart Futures programme and hopes to extend the Atom Futures Fund further.
Broader Social Investment Strategy
Atom Bank's commitment extends to the Durham Maths School, identified as the fourth pillar of its Social Investment Strategy. This initiative recently received a significant boost with confirmation from the Department for Education that establishing the school remains a priority for central government.
Twiddy concluded: "With a new industrial revolution coming fast to all sectors of the economy, we need as many companies as possible to be supporting the next generation to make full use of their talents. Only then will firms like ours and the North East continue to be a focus for the investment and productivity gains that we need to support all our futures."
