Stiegler EdTech Announces Grant from Live Oak Bank to Expand its Newly Launched Varsity Esports & STEM League to Eastern NC

Rhea-AI Summary

Stiegler EdTech (Ticker: SEDT) partners with Live Oak Bank to expand Varsity Esports & STEM League (VESL) to Eastern NC, offering high school students valuable coding and technology skills. The program aims to provide scholarships, needs-based aid, and financial incentives to pursue higher education and technology careers.

Insights

Market Research Analyst

The strategic expansion of Stiegler EdTech's Varsity Esports & STEM League (VESL) into Eastern North Carolina, supported by Live Oak Bank, is indicative of a growing trend where private sector entities are actively investing in the development of future workforce capabilities. This move not only serves to enhance the educational opportunities for students but also strategically positions the region to meet the increasing demands of the tech industry for skilled labor.

From a market perspective, this initiative can be seen as a long-term investment in human capital, which is critical for sustaining regional economic growth and innovation. By focusing on STEM education and aligning with the esports trend, VESL is tapping into a dual interest area that is popular among younger demographics and has been shown to improve engagement and learning outcomes.

The implications for stakeholders, particularly in the tech sector, include a potential increase in the availability of a locally-grown, tech-savvy workforce, which could lead to cost savings on recruitment and a stronger local economy. However, the success of such programs depends on their ability to effectively translate educational experiences into employable skills that match industry needs.

Education Policy Expert

The collaboration between Stiegler EdTech and Live Oak Bank reflects a proactive approach to addressing the skills gap in the technology sector through educational initiatives. VESL's focus on providing workforce-ready skills to high school students aligns with current policy discussions on the importance of STEM education as a driver of economic competitiveness.

By integrating esports, which has a growing cultural and economic significance, into the educational framework, VESL is leveraging an innovative method to enhance student engagement. This approach could serve as a model for other regions seeking to enhance their educational programs and prepare students for the modern workforce. However, the effectiveness of such programs must be continuously assessed to ensure they are equipping students with the skills that are in demand in the labor market.

Moreover, the initiative's emphasis on needs-based aid and scholarships is crucial for promoting educational equity and access, especially in underserved communities. This is particularly important as it may contribute to reducing the digital divide and fostering a more diverse technology workforce in the long run.

Financial Analyst

The financial backing provided by Live Oak Bank to VESL underscores the strategic role that corporate philanthropy can play in shaping the talent pipeline. Investments in educational programs such as VESL are not only philanthropic contributions but also serve as a strategic alignment with Live Oak Bank's interest in fostering a robust local economy where they operate.

While the direct financial impact on Live Oak Bank's bottom line may not be immediately apparent, the long-term benefits of such community-focused investments can be substantial. A skilled local workforce can attract more businesses to the area, potentially improving the bank's commercial lending portfolio. Additionally, this initiative may enhance Live Oak Bank's reputation and brand loyalty within the community, which can have positive implications for customer acquisition and retention.

WILMINGTON, N.C., Jan. 9, 2024 /PRNewswire/ -- Stiegler EdTech announced today that its latest Charlotte-based technology workforce program Varsity Esports & STEM League (VESL) is expanding to Eastern NC thanks to the leadership and continued support of Live Oak Bank and its philanthropic commitment to education and workforce development.

"We are thrilled to support the continued expansion of VESL across North Carolina," said Kate Groat, Live Oak Bank's Director of Corporate Philanthropy. "This program provides students with workforce-ready skills while keeping them engaged in learning. We are proud to empower youth in our community to further their education and career potential."

VESL aims to teach valuable coding and technology skills to meet the talent needs of the tech industry in North Carolina. All North Carolina high school students are eligible to participate in VESL where they will be given the opportunity to learn critical STEM skills while participating in Esports & STEM competitions through their schools. Thanks to the grant funding from Live Oak, more students in Eastern NC will be able to gain access to scholarships, earn needs-based aid, and support additional financial incentives and opportunities to pursue higher education and technology careers.

"This partnership offers our community a competitive advantage both in terms of the impact VESL will make directly with New Hanover County students as well as the long-term confidence it will provide employers who invest in North Carolina that there will indeed be great technology talent to hire locally moving forward," adds Luke Waddell, Wilmington City Council Member. "Live Oak Bank's commitment to the region through programs like VESL is an exciting investment in the next generation of tech talent in Eastern NC."

The funding supports events such as regional tournaments, including one planned in Wilmington this winter, following the success of a state-wide championship tournament held in Charlotte last year, which brought together thousands of students and fans.

"Americans are underskilled and employers have to be a part of the solution," says Tariq Bokhari, Charlotte City Council Member and Chairman of Stiegler EdTech. "Vital funding like Live Oak's grant gives us the ability to empower young minds to learn highly sought after skills and think innovatively about real-world problems that directly impact our future. This means better students, better outcomes, and more opportunities for our next generation."

Students interested in participating in VESL can register for free via http://www.vesl.gg/ and schools can join by emailing hello@stiegleredtech.org. Companies and sponsors interested in additional opportunities to support this important programming can learn more by contacting pasha@stiegleredtech.org.

For more information on Stiegler EdTech's educational programs, visit https://stiegleredtech.org.

Contact:
Pasha Maher
pasha@stiegleredtech.org.

About Stiegler EdTech

Stiegler EdTech is a mission-driven organization dedicated to transforming technology education and creating effective modern talent ecosystems within our partnering communities. Our programs are designed to provide lucrative career pathways for both active students and prospective job-seeking adults alike. By focusing on an end-to-end ecosystem solution, we are able to engineer long-term, sustained growth in adding qualified, diverse candidates to the tech talent pipeline of your region for employers to confidently hire and invest.

About Live Oak Bancshares

Live Oak Bancshares, Inc. (NYSE: LOB) is a financial holding company and parent company of Live Oak Bank. Live Oak Bancshares and its subsidiaries partner with businesses that share a groundbreaking focus on service and technology to redefine banking. To learn more, visit www.liveoakbank.com.

View original content:https://www.prnewswire.com/news-releases/stiegler-edtech-announces-grant-from-live-oak-bank-to-expand-its-newly-launched-varsity-esports--stem-league-to-eastern-nc-302030176.html

SOURCE Stiegler EdTech

FAQ

What is the latest announcement from Stiegler EdTech (Ticker: SEDT)?

Stiegler EdTech has partnered with Live Oak Bank to expand Varsity Esports & STEM League (VESL) to Eastern NC, offering high school students valuable coding and technology skills.

What is Varsity Esports & STEM League (VESL) and who is eligible to participate?

VESL is a program that provides scholarships, needs-based aid, and financial incentives to North Carolina high school students to pursue higher education and technology careers.

How is Live Oak Bank supporting the expansion of VESL?

Live Oak Bank is providing grant funding to support the expansion of VESL, allowing more students in Eastern NC to gain access to scholarships and financial incentives.

What is the goal of VESL?

The goal of VESL is to teach valuable coding and technology skills to meet the talent needs of the tech industry in North Carolina.

Who is Luke Waddell and what is his role in the partnership?

Luke Waddell is a Wilmington City Council Member who highlights the competitive advantage VESL will provide to New Hanover County students and employers investing in North Carolina.

What type of events does the funding support?

The funding supports events such as regional tournaments, including one planned in Wilmington this winter, following the success of a state-wide championship tournament held in Charlotte last year.

Who is Tariq Bokhari and what is his view on the partnership?

Tariq Bokhari is a Charlotte City Council Member and Chairman of Stiegler EdTech who emphasizes the importance of empowering young minds to learn highly sought after skills with the support of vital funding like Live Oak's grant.