PUNE (India CSR): Maxion Wheels, a leading global wheel manufacturer for passenger cars, light trucks, buses, commercial trucks and trailers, in partnership with Iochpe Foundation from Brazil and Savitribai Phule Pune University, is bringing “Formare”, a well-established academic scholarship program to the region of Pune, India.
The new two-year program, for which 30 students who are part of India’s Economic Weaker Section (EWS) will be selected, results in a Manufacturing Technology academic diploma program. The student application and selection process, which includes the goal of at least 50% female participation, will take place in selected villages in the Pune and Khed region.
Suhas Majrekar, Managing Director of Kalyani Maxion Wheels’ light and commercial vehicle steel wheels plants in Pune said, “We are very proud to bring the highly successful Formare program from Brazil and Mexico to EWS students in our Ganeshkend, Kurali and Nimagon communities.”
Pieter Klinkers, CEO of Maxion Wheels stated, “At Maxion Wheels, we embrace our responsibility as a corporate citizen, we champion education, healthcare, and other initiatives in the communities where we operate. Together, we create opportunities to shape a brighter future for all. Supporting the establishment of the Formare program in India is a new milestone for us at Maxion Wheels”.
“The program aims to enhance the employability of underprivileged Indian youth in the region by connecting classroom learning with real-world workplace experiences. This will be achieved by incorporating university curriculum education at Savitribai Phule Pune University while simultaneously providing targeted professional and social skills training at Maxion Wheels’ facilities in the Pune area”, Rahul Vaidya, Managing Director of Maxion Wheels’ light vehicle aluminum wheels plant in Khed City, Pune, added.
Students will receive a comprehensive academic scholarship sponsored by Maxion Wheels. In addition to 100% tuition being reimbursed, they will also receive a uniform, transportation, meals, and a monthly stipend.
Unlike other educational scholarship programs in the region, Formare is not focusing on developing new employees for partnering, instead it focuses on giving participants an opportunity to succeed in the job market overall.
Prof. Dr. Radhakrishna Pandit, Director Skill Development Centre, Savitribai Phule Pune University said, “By focusing on job readiness and industry relevance, this unique program, set to start in the academic year 2024-2025 as per the National Education Policy (NEP) of the Government of India, opens doors to a wide range of employment opportunities, fostering a new generation of skilled professionals.”
Currently, the Iochpe-Maxion Group is running six Formare program units; four in Brazil and two in Mexico. India will be the first outside of the Americas. The Formare program has impacted the lives of thousands of young Brazilians and Mexicans over the last 35 years. According to a 2023 survey carried out by Plano CDE (a consultancy and research company focused on social impact), the Formare program is changing the lives of its students in meaningful ways:
- 89% of Formare program alumni achieve formal work positions in their first job.
- 90% of former Formare students continued to study with 71% pursuing higher education or post-graduate degrees, and 19% taking a technical course.
- 88% of former Formare students say they would not have taken the course if the benefits provided by the partner companies did not exist.
- On average, after six years of completing Formare, graduates’ remuneration increased by 142%.
India was selected as a third country of operation for Formare to bring an educational opportunity to highly talented and motivated Indian youth with otherwise limited economic prospects. The program aims to support the Indian government’s EWS and skill development initiative.
Applications for the program will be handled by Savitribai Phule Pune University. The selection process includes an exam, conducted by the university, followed by a counseling session, and finally a home visit by representatives of Maxion Wheels. The admission process and program will commence with the academic year 2024. To be eligible for the program, students require a 10+2 (Science) or equivalent educational background and their family must qualify for the Economic Weaker Section.
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