LONDON, June 14, 2023 /PRNewswire/ -- A new £7mn Maths Excellence Fund (the 'Fund') has launched with support from founding donors XTX Markets and The Hg Foundation. The fund will be managed by Ark Ventures, a charity with an outstanding record in incubating and scaling education initiatives.
The Fund has been established to support schools in England to improve attainment and progression in maths from 11-16 and 16-18 years of age, increasing the number of students who are on track to succeed in A-level maths and beyond, with a focus on students from disadvantaged backgrounds.
The Fund draws on the Maths Excellence Pathways report, recently published by XTX Markets and the University of Nottingham. This longitudinal study examined which groups of students excel in maths, including where they join and leave the 'excellence pathway'. It highlighted major disparities. For example, 74% of the most advantaged students stay on the excellence pathway from 11-16, compared with only 49% of students on free school meals.
The Fund will focus on evidence-led programmes that provide wide-ranging support to groups of schools in regions across England. The Fund will make available up to £7mn for programme delivery, plus additional funding for an independent evaluation. Funding will be deployed over a period of five academic years, with delivery beginning in 2024/25.
The Fund is expecting to award contracts to between three and six delivery partners, which may include charities, multi-academy trusts, universities, local authorities or companies. Applications opened in June 2023 and contracts with delivery partners will be finalised by November 2023. The Fund will be overseen by an Advisory Board comprising education sector experts, including Professor Andy Noyes and Professor Becky Francis CBE, CEO of the Education Endowment Foundation.
XTX Markets has committed the first £5mn in funding with The Hg Foundation committing a further £2mn. XTX Markets and The Hg Foundation will work closely with Ark Ventures to ensure that the Fund focuses on students from disadvantaged backgrounds, and that the resulting programmes are independently evaluated and can be scaled in future.
Ben Cartledge, Director at Ark Ventures, commented: 'This is an incredible commitment from XTX Markets and The Hg Foundation. The Maths Excellence Fund will boost improvements in maths by investing in ideas for maths education in England to drive systemic change. Ark Ventures is looking forward to working alongside the Fund's partners to deliver its aims and cannot wait to see the applications from a range of organisations coming in.'
James Turner, Chief Executive at The Hg Foundation, commented: 'We are delighted to be working on this new programme to help more pupils, especially those from low-income homes, to achieve at the highest levels in maths, which is a great foundation for future careers. By working over the long term with expert partners, and through schools and teachers, we hope the Fund will not only have a positive impact on thousands of young people, but also leave a legacy of knowledge and practice that will help many others.'
Simon Coyle, Head of Philanthropy at XTX Markets, commented: 'The Maths Excellence Pathways report shows that, when students from disadvantaged backgrounds are supported to excel in maths from 11 to 16, they are disproportionately likely to progress to maths degrees. The Maths Excellence Fund exists to help schools provide more students with those opportunities, and to develop effective programmes that can be expanded nationally in the future.'
About the Maths Excellence Fund:
The Maths Excellence Fund has been established to support schools to improve student attainment and progression in maths from ages 11 to 16 and 16 to 18, increasing the number of students on track to succeed in A-level maths and beyond.
The Fund supports schools to help students join and stay on the maths excellence pathway. It has a particular focus on improving attainment and progression for high-attaining and high-potential students from disadvantaged backgrounds.
The Fund is a collaboration between XTX Markets, The Hg Foundation and Ark Ventures, which will be managing the Fund and the delivery of its activities.
Charities, muti-academy trusts, universities, local authorities or companies are invited to apply to the Fund via its funding round.
The Fund also welcomes interest from organisations that would like to learn more about the Fund's objectives and explore opportunities to collaborate.
For more information: www.mathsexcellencefund.org
About Ark Ventures:
Ark Ventures, part of the Ark education charity, has incubated, launched and scaled initiatives that tackle issues across education and society, both in the UK and across the world; all have the potential to deliver widespread system change. The charity also works with ventures that are mission aligned, aim to bring about systemic change, and are run by exceptional people, where the prime beneficiaries are pupils, families and teachers in Ark schools or in equivalent circumstances.
Ark Ventures is managing the Maths Excellence Fund, including the commissioning and evaluation of programmes, to help ensure that the Fund achieves its long-term aim of transforming maths attainment in England.
About XTX Markets:
XTX Markets is a leading algorithmic trading firm which partners with counterparties, exchanges and e-trading venues globally to provide liquidity in the Equity, FX, Fixed Income, Futures and Commodity markets. XTX has over 200 employees based in London, Paris, New York, Mumbai, Yerevan and Singapore.
The company's corporate philanthropy focuses on STEM education and maximum impact giving (alongside an employee matching programme). Since 2017, XTX has donated over £80 million to charities and good causes, establishing it as a major donor in the UK and globally. Over the past year, the XTX Markets' Academic Sanctuaries Fund has delivered £10.1mn in funding for academic sanctuaries projects. This includes direct funding for studentships, fellowships and research positions for 336 people across 45 institutions globally. It also includes funding for 13 innovation projects in the UK and Ukraine, which will reach hundreds more people.
About The Hg Foundation:
The Hg Foundation's vision is that the tech workforce of the future harnesses the talents of all, regardless of background. It does this by supporting education and employment-based programmes across the UK, USA and Europe where it can demonstrate measurable, long-term and scalable impact and make a difference to those that need it most. To date it has committed $14m to programmes that will reach 10,000 young people and adults from under-represented backgrounds. The Hg Foundation is registered Charity no. 1189216. Find out more at: https://www.thehgfoundation.com/
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