WHAT IS the FREC city ACCELERATOR?
The FREC City Accelerator (FCA) is part of Ford's commitment to driving social mobility for individuals and communities. FCA is designed to help develop social ventures in neighborhoods.
Who are we looking for? People who have a good answer to the following question;
"How might we accelerate economic opportunity for individuals and families in Detroit’s neighborhoods?"
You could own a landscaping company who hires teens and returning citizens, or be a non-profit leader or pastor who works with youth, single mothers or the elderly.
Or, maybe you have an idea for an app that can improve your community.
You may even be working full time, using your nights and weekends to invest in the lives of others through your small business or social impact work.
This accelerator presents an opportunity to build a sustainable model around the work you are doing, while gaining access to mentoring, training, and resources to take your social venture to the next level.
Solutions may address any of the following outcome areas:
Career Pathway Education
Social and Emotional Learning
Seven Ventures will be accepted into the FREC City Accelerator where they will participate in three, 3-day intensive sessions over a 7-week period at the Ford Resource and Engagement Center. Program curriculum, led by the Points of Light Civic Accelerator, will cover business model design, LEAN business development, storytelling, financial strategy, and authentic leadership. In between each session, 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, as determined by their peers through a peer investment model.
The Points of Light Civic Accelerator, launched in 2012, is the first accelerator program and investment fund in the country focused on "civic ventures" -- for-profit and nonprofit startups that include people as part of the solution to critical social problems. The three month, boot camp-style program convenes 10-15 teams in person and online with the goal of equipping each startup to seek investments and scale their social innovation.