Adolfo Villegas

Forte

We do not currently have a way to finance high-quality education, especially vocational reskilling, at the scale required. Forte (which stands for Financing Of Return To Employment) is a new, better way to invest in human potential. It is a way to finance reskilling at no cost to either individuals or governments, and without needing philanthropy. Here's where the idea for the Forte approach comes from: The cost of reskilling is often far less than the increase in government taxation revenue caused by that training. Forte utilizes this empirical reality by enabling education to be paid for with that increase in expected future tax. In practice, it works in three simple steps: 1. Via the Forte platform, investors can pay for the vocational training of individuals who would otherwise be paying no or negligible tax. 2. This training, by its nature, increases expected employment, incomes, and therefore government tax revenue. 3. Governments, as part of the contractual arrangement, pass back to investors an agreed portion of the tax revenue attributable to the training recipients, for a set period of time. By way of example, suppose Lydia just lost her job and wants to be a programmer in the future. With the Forte approach, an investor could finance a six-month coding training course to 1000 people like Lydia, in return for 30% of the tax revenue attributable to them for 5 years. This arrangement is mutually beneficial. Individuals receive training at no cost. They just pay the usual tax rate. They're effectively paying for their own training with their future tax. Governments can help workers have lost their jobs, prepare the workforce for the jobs of the future, overcome skill gaps, and prevent long-term unemployment, without worsening the budget. And there are mathematical ways to guarantee they bear no risk and never lose out. Investors can both do good and do well. They can invest in a way that genuinely helps those in need. A true win-win.