GERMANY - PEF donates EUR 180,000 to HHM

Mareen Goebel
16 September 2008

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The Private Equity Foundation (PEF), a venture philantrophy fund, has made its first donation of EUR 180,000 to the Hamburger Hauptschulmodell (HHM), an employment and training initiative aimed at secondary modern schools in Hamburg. PEF members will also provide pro bono business expertise.

HHM was launched in 2000 by the Hamburger Netzwerk der Initiative für Beschäftigung (Hamburg Employment Initiative Network). The initiative is designed to improve job market orientation and increase the transition to non-grant-related commercial training positions for young people leaving secondary modern schools.

The project is a collaboration between schools, career guidance consultancies and the Education Coordinating Office at the Arbeitsstiftung Hamburg (Hamburg Employment Foundation), and is financed with resources provided by the City of Hamburg and the Agentur für Arbeit (Agency for Employment). There are currently more than 90 schools and more than 70 Hamburg-based companies involved in the initiative.

PEF’s donation, alongside its voluntary engagement, will give the HHM the capacity to expand public awareness not only of its programme, but the situation facing school leavers looking for employment. It will enable the HHM to encourage more companies to offer apprenticeships and ultimately, to roll out similar projects throughout Germany.