In order to foster a thriving middle class within Utah, the University of Utah’s President Ruth V. Watkins and Lt. Gov. Spencer J. Cox launched the statewide American Dream Ideas Challenge. Focused on finding policy and technology innovation proposals right in Utah, the challenge offers up to $1 million in funding for ideas that will sustainably increase by 10% the net income of 10,000 of Utah’s middle-class families by 2020.
The University of Utah is working closely with three other higher education institutions as anchors in The Alliance for the American Dream. While Schmidt Futures’ goal is the creation of pathways for a more robust and healthier middle class, each institution is taking a different approach. Courtney McBeth, the project director, says that they’re searching for innovative ideas that not only help communities and families survive, but thrive.
President Watkins spoke about the university’s selection in a press release, saying that, “When Schmidt Futures selected the University of Utah as a member of The Alliance for the American Dream, it specifically noted our state’s energized and giving population, the innovative mindset we share and our willingness to pilot and collaborate on new policies and ideas. Schmidt Futures told us they valued our unique community-based approach to running this Ideas Challenge, with its focus on engaging a broad range of perspectives and voices from across the state.”
Interested individuals have until August 30th to submit their ideas. There are three rounds in the evaluation process, starting with a selection committee identifying the 10 best proposals, who each receive up to $10,000 for further refinement. The second round further trims the ideas to the three best proposals, which receive up to $30,000 in development funds. Finally, the top three are forwarded for consideration at the national level, with Schmidt Futures awarding up to $1 million in funding.
