Ford Fund, Ford's philanthropic arm, and Artemisia, a pioneering organization to support social impact businesses in Brazil, launched the Ford Fund Lab: Innovation and Mobility, a program created to provide training and guidance to startups that develop mobility programs aimed at the needs of the country's low-income population.
The program was presented today by Lyle Watters, president of Ford South America, and Jim Vella, president of the Ford Fund, during the opening of Campus Party Brasília, the regional version of the largest technology and connectivity event in Brazil.
The announcement is part of the expansion of the Ford Fund's activities in Brazil and the investments that the organization makes around the world to enable the necessary transformations in society. The Ford Fund Lab: Innovation and Mobility will promote the short-term acceleration of up to 20 entrepreneurs who are in the early stages of business development. The partnership with Artemisia focuses on identifying the most promising social impact projects, with innovative solutions that meet the basic needs of communities with little or no mobility offer.
“Social impact businesses are scalable, replicable and sustainable businesses capable of creating innovative solutions to complex social problems,” explained Jim Vella. "These startups can bring us new opportunities to engage with communities, helping to make people's lives better."
Social impact businesses are those that offer solutions to problems faced by the low-income population without relying on donations or subsidies. In the coming months, workshops led by mentors from Artemisia and Ford will support the development of these ventures and increase their social impact. At the end, seed capital will be awarded to up to three participants with solutions that bring real social impact to low-income people.
“Ensuring mobility means guaranteeing access to basic rights and promoting a healthier and more autonomous society. The strategic alliance between Artemisia and the Ford Fund aims to develop and strengthen a new generation of social impact businesses with innovative mobility solutions – a theme that is transversal to other structuring sectors for the development of the low-income population”, he explains. Maure Pessanha, executive director of Artemisia.
Support for social impact businesses is part of the Ford Fund's strategy in Brazil and worldwide. In April, for example, the organization launched the Ford Empower-HER program, in partnership with the Michigan Women's Foundation, to encourage female-led startups to develop solutions and products with the potential to transform their communities. In addition, it supports several social projects in the country, such as Projeto Axé, in Bahia, which assists and creates opportunities for women in situations of social vulnerability.
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