First European Ford innovation projects incubator to open in Craiova

Ford Romania will open this September in Craiova, in partnership with the local authorities, the first Ford Resource and Engagement Centre in Europe, for students and recent graduates to use.

Dubbed Ford Resource and Engagement Center, the hub is part of the projects of Ford Motor Company Fund, Ford Motor Company's philanthropic arm, and will focus on social entrepreneurship.

"The FREC Craiova is a collaboration with the Asociatia Pentru Educatie SV Oltenia (EDUCOL), a local non-profit organisation that seeks to maximise training, development and employment opportunities for young people; and with the City Hall of Craiova, which is providing building premises. Underpinned by a $1 million investment over four years from the Ford Motor Company Fund in partnership with GlobalGiving, the new FREC will act as a social entrepreneurship incubator space where students and recent graduates from the University of Craiova can design and launch innovative and sustainable ways to drive social and economic progress. The aim is to positively impact the job growth, economic potential and quality of life for local residents in the Oltenia region," Ford Romania said in a release.

The FREC Craiova, the fourth of its kind globally, will also help to bring together local non-profit partners, Ford volunteers, mentors and educational leaders to provide related employability and community programs - helping local residents learn new skills, develop new talents and celebrate community.

Apart from the multi-year agreement signed between GlobalGiving, Ford Motor Company Fund's international grant making partner, and EDUCOL, an additional $100,000 grant will also enable the building refurbishment to meet the specific needs of the FREC. Refurbishment work is already underway supported by Ford employees, the City Hall of Craiova, and the academic community of the University of Craiova - with students playing an active role, the release said.

Students and graduates will be invited to submit their social enterprise proposals by early September, with the first winning teams being announced in October at an inauguration ceremony. Each team will receive a start-up grant and have access to office facilities at the FREC.

The first FREC opened in 2013 in Detroit. Since then, Ford Fund has launched a FREC in South Africa and added a second one in Detroit. Plans are underway to expand to Asia as well, with a FREC launching in Bangkok in early 2019.

"By combining American expertise and enthusiasm for social enterprise with the fertile Romanian entrepreneurship environment, we hope to challenge more young people to become responsible and active members of their local community, driven by the desire to make a difference and be part of a global network. We are grateful and honoured to work with Ford Motor Company," said Professor Leonardo-Geo Manescu, President of EDUCOL, as cited in the release. agerpres