Ford Motor Company Fund, working with Points of Light Civic Accelerator, an organization that helps mobilize people into taking action on causes they care about, today announced it will award $50,000 to entrepreneurs interested in improving social mobility in Detroit neighborhoods.
The FREC City Accelerator competition is seeking applications by July 14 from early-stage for-profit and non-profit ventures that can answer the question: How might we accelerate economic opportunity for individuals and families in Detroit’s neighborhoods?
Program organizers are looking for innovative technologies, platforms, and other models that improve financial outcomes and prepare Detroit youth and families for financial success. Solutions may address any of the following outcome areas:
- Workforce Readiness
- Career Pathway Education
- Financial Literacy
- Social and Emotional Learning
“Ford’s footprint in the community and its continued support for entrepreneurs is not only far reaching by driving innovation globally, it also reaches in the neighborhoods through social mobility,” said Shawn Wilson, manager, multicultural engagement, Ford Motor Company Fund.
FREC City Accelerator takes its name from the Ford Resource and Engagement Center, a community center program Ford launched in 2013 to work with non-profits to meet local needs. The first FREC is in southwest Detroit. A second FREC in Detroit is planned for later this year at Fisher Magnet Upper Academy on Detroit’s east side.
Points of Light Civic Accelerator, part of Atlanta-based Points of Light volunteer service organization, will provide the curriculum for the three-day intensive per week during a seven-week time span.
Topics of study will include business model design, LEAN business development, storytelling, financial strategy, and authentic leadership. Additionally, participants will work with business leaders and mentors to reach their business goals.
At the end of the program, two ventures will be selected to receive a $25,000 grant each, as determined by their peers through a peer investment model.
Applications will be accepted through July 14, 2017, 5 p.m. EDT. Visit www.freccity.org to apply.