Share
170.000 €
100% funded by 1300 investors
Code for All
Lisboa, PT
instalment
monthly
term
7 years
yearly interest
5.9%
risk rating
B-
Growing transformative educational solutions for the tech industry
Description
Code For All is a B Corp certified edtech impact company that launched Academia de Código and Academia de Código Júnior in 2015. Academia de Código is the biggest in-person tech bootcamp brand in Portugal and one of the best in the world. Academia de Código Júnior was later rebranded as ubbu, a code literacy remote platform for kids aged between 6 and 12.
Code for All helps people change their lives by teaching them tech skills and by offering companies a solution to close the tech talent gap. Recently the promotor expanded their activity to a new space in Alcântara, Lisbon.
This social impact-driven organization wants to seek funding from Goparity's investment community to:
- Renovate their new super campus and increase training capacity;
- Buy more tech equipment for the bootcamps;
- Raise working capital to enable additional funding alternatives for students that can’t afford to pay the tuition fee.
In every decision, Code for All commits to taking into account impact criteria, and they will build an impact-dedicated area on the campus. The plan is to fund 500.000€ in three Goparity campaigns.
Academia de Código has changed the lives of 1.875 people, so far, and upskilled many more in the most demanded tech stacks in the market. Almost 300 tech companies have hired professionals from their bootcamps. According to an EY certified audit, their employability rate after 3 months of finishing the bootcamps was 98% in 2021.
The Impact
Direct
Access to quality education
- Improved facilities and more students: in total, 1318 people have received qualified and specialized training through Code for All_ until the end of 2021. With the funding, Code for All_ will be able to increase the number of students in the boot camps, every year, from 400 to over 1000 – which translates into an additional 600 people receiving training. The funding of the previous 3 campaigns has enabled them to move forward with the construction works of the Campus and started operating with 3 ongoing courses for 60 people.
- Increased beneficiaries from unemployed, underemployed, and/or from underprivileged backgrounds: with the campaign, Code for All_ will increase its capacity to fund students that can’t afford the tuition fee from 173 to 500 people – which represents an additional 327 people receiving funding alternatives.
All three campaigns with Code for All will impact positively 927 people. This campaign alone will impact 185 people.
Indirect
- Economic growth: in 2021 alone, Code for All activities had a positive impact on the economy of almost 34 million euros. These refer to the value generated by the job placement of people after each bootcamp, the consequent consumption in the supply chain, and the savings in social security and taxes.
- Creation of skilled employment: by 2021, 481 jobs have been created through Code for All's activity. There was a 98% employability rate among students up to 3 months after the bootcamp, above the industry average. In the year 2021, 259 people were trained, of which 73% were unemployed pre-bootcamp.
- Support for companies committed to sustainable development: Code for All has been a B Corp certified company since 2018. The B Corp certification assesses companies' operations and how their business models affect their employees, community, and customers.
Impact Indicators
315
people impacted
Contribution to the Sustainable
Development Goals
Sustainable Development Goals
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Financial viability
In 2021 Code For All trained 259 students and the group’s activities had an impact on the economy of 34 million euros, generating 481 jobs and a positive tax impact, in the Portuguese economy, of 3 million euros (source: Code For All 2021 Impact Report prepared by Deloitte). This project will allow increasing capacity to more than 1.000 students per year, by 2027, and also fund more students (unemployed, underemployed, or from underprivileged backgrounds). By 2025 Code for All expects to scale the economic and social impact three to four times, compared with the 2021 report. The impact case of Code For All bootcamps has been assessed through academic research undertaken by students at NOVA SBE. Using the Impact Management Project framework, Code for All falls under an impact classification of C “Contribute to Solutions”, which stands out as a solution that delivers sustained positive social outcomes to underserved populations.
Download Key Investment Information Sheet
The Promoter
About Code For All, Lda.
In 2013, Portugal was facing a severe financial crisis, resulting in a staggering number of 145,000 unemployed individuals with college degrees. The situation was exacerbated by high rates of underemployment especially among younger generations. This problem was not limited to Portugal alone, countries like Spain, Italy, and Greece faced even more daunting figures. A pressing question comes up: How could we contribute to addressing this issue?
Code for All_ was born to challenge the status quo and test a hypothesis: "Could they teach programming, one of the most in-demand hard skills in the job market, rapidly and effectively to individuals from diverse academic, economic, and social backgrounds? Could they empower them to transition from having zero knowledge in programing to embarking on successful careers in Software Development within 14 weeks when the typical Computer Science degree took, at least, 4 years?"
Code For All_ was founded in 2015. They have been a certified B Corp since 2018, and have been highlighted as a case study for innovative financing of impact projects in the book Adventure Finance, authored by Professor Aunnie Patton Power from the University of Oxford.
The promotor is determined to break the unemployment cycle and offer a transformative educational solution. Code For All_ is committed to democratizing education and providing opportunities for individuals who had been left behind by conventional systems. So far they have witnessed success stories of 1.927 individuals who, despite previous struggles, found new purpose and fulfillment through their programs.
Code For All_ is currently part of Euronext's ELITE scale up program.
The team
João Magalhães
João is the founder and CEO of Code For All. Before founding Code For All, João worked in a top consulting firm in the financial advisory industry and worked on projects in the tech and energy sectors. João holds an MBA from IE Busines School in Madrid.
Rui Ferrão
Rui has more than 20 years’ experience in Information Technologies from companies such as Ericsson, and Nokia working in deep tech projects for clients such as the European Space Agency. Rui holds a Degree in electronics, telecommunications and computer engineering.
Business Model
After getting admitted to attend the bootcamp, Code For All_ receives a tuition fee (8.000€ per student). If a student can’t pay, Code For All_, finds alternative financing solutions for students such as ISAs, deferred price agreements, or grants. The different financing options might involve partnerships with foundations, public entities, or financial institutions. Companies pay for placement services and in the B2B model companies pay a fee to Code For All_ for the training services, and IT services.
Active since
2017
Fiscal country
PT
Operating In
Portugal
Industry
Education
Number of Goparity Loans
4
Women Shareholders
No
Updates
2024-05-09
Code for All is a semi-finalist for SME Heroes prize – support with your vote!
Code for All is a semi-finalist for SME Heroes prize in 2 categories: SME Heroes and S Factor (Sustainability). This recognition is a testament to their commitment to excellence, innovation, and social responsibility.
By 2027, the European Union expects 20 million people to need retraining, Code for All will help in this transition process with an efficient and scalable solution.
To vote and support Code for All, go to this link (in Portuguese), click "vote for this story", rate by area, enter your email address, and validate your vote!
You can find out more about the award, Code for All's trajectory, and its important role in transforming lives and contributing to the sustainable growth of the technology sector at the link above.
2023-09-21
First payment
First instalment was paid to all the investors
2023-08-21
100% funded
1250 investors successfully raised 170.000€
2023-08-14
New target
The project promoter has decided to reduce the amount to be raised from €200,000 to €170,000 to ensure the success of the campaign.
2023-07-20
Open for investment
This campaign is open for investment
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1070-289 Lisboa
Portugal
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