Hints For Baby Boomer Entrepreneurs

Aiding baby boomers, new online education company addresses employment needs

Written by UCLA Media Relations & Public Outreach

Sunday, 26 June 2011

Los Angeles, California - Encore Career Institute (Encore) and UCLA Extension announced today the formation of a new, comprehensive online educational company offering professional certificates and career counseling designed specifically for baby boomers transitioning to new careers or seeking to remain viable in today’s job market.

The Sherry Lansing Foundation, which has pioneered work in late-career job training, was a motivating force behind the company. The foundation, along with Creative Artists Agency (CAA), conceptualized Encore, and together with Silicon Valley entrepreneur Steve Poizner they formed a partnership with online learning leader UCLA Extension to provide program content.

Encore has secured $15 million in Series A venture capital funding from two Silicon Valley–based firms, InterWest Partners and Granite Ventures, to develop the new online education company.

“Three of California’s greatest assets are the academic excellence at UCLA, the creative know-how of Silicon Valley and the marketing power of Hollywood. We have brought all three of these forces together to create a new opportunity for the millions of baby boomers who have been displaced in the workforce or are looking to make a new career move,” said Poizner, co-founder and CEO of Encore. “Our goal is to create a true end-to-end experience for students, from career guidance to innovative online courses, followed by assistance with the job-search process.”

“UCLA Extension sees this project as an important step in expanding our online offerings nationally to this very experienced and educated generation,” said Cathy Sandeen, dean of UCLA Extension. “So many baby boomers will want to continue to work past traditional retirement age, and U.S. employers will want to redeploy the talent and expertise of this demographic segment. We are delighted to be part of a new venture that supports both of these important goals.”

With high unemployment throughout California and the nation, the competitive job market has placed increased demands on candidates to update their skills. Many members of the baby boom generation — generally those born between 1946 and 1964 — are unable to retire due to financial constraints, thus increasing the need for re-education. Other boomers wish to move in a different direction, to establish an “encore” career in order to pursue a passion or to make a contribution in the education or nonprofit sectors.

A founding partner of Encore, CAA, the world’s leading entertainment and sports agency, has extensive experience in marketing and brand-building and has long been actively involved in education initiatives on the local, state and national levels through the CAA Foundation, the agency’s philanthropic arm. The agency will access its vast resources and expertise in these areas and others to market the new Encore program nationally.

“Encore was created to address the growing needs of the seasoned workforce by teaching them new skills and providing the necessary tools for re-entry into today’s job market,” said Michael Yanover, head of business development at CAA. “We look forward to working closely with our partners to access our resources and experience in marketing and education reform to build awareness for this new platform among the 77 million boomers, who are redefining the notion of retirement.”

Encore’s next-generation learning tools will leverage web development tools, social networking technology, mobile devices and new multimedia technology to improve the online classroom experience, offering boomers the opportunity to complete a comprehensive certificate program in just one year and providing them with the skills needed to pursue careers in many fields, including finance, education, health care and environmental sustainability, among others. Read more at imperialvalleynews.com