Announces Gift from Eric and Wendy Schmidt to Support Inclusive Innovation
CAMBRIDGE, Mass., Oct. 7, 2015 – Following
the announcement of the Inclusive Innovation Competition at MIT today, the
Initiative on the Digital Economy (IDE) received a surprise donation by Eric
and Wendy Schmidt. Mr. Schmidt is the executive
chairman at Google; Mrs. Schmidt is a philanthropist. The announcement came during the launch of
Solve (solve.mit.edu), MIT’s new
cross-disciplinary program to address the world’s most pressing challenges,
where Mr. Schmidt co-chaired a session with Professor Erik Brynjolfsson and Dr.
Andrew McAfee of the IDE called “Sparking a New Era of Business Innovation”.
Schmidt said, “Erik [Brynjolfsson] and Andrew [McAfee] are undertaking
critically important work at the MIT Initiative on the Digital Economy, and we
are very excited to support the Inclusive Innovation Competition so we can
motivate the type of change that provides more and better jobs in this new era
of technology-driven innovation.”
address this issue, the Initiative on the Digital Economy is launching the
Inclusive Innovation Competition in collaboration with the MIT Innovation
Initiative. The Competition’s aim is to
focus entrepreneurial and innovative energy on improving economic prospects for
Co-Director Andrew McAfee noted that “we’ve got a chance and an obligation to
make important if not dramatic changes that provide opportunity for everyone in
the face of these brilliant technologies, because I believe we are just at the
start of the Second Machine Age."
Inclusive Innovation Competition is also supported by grants from the Rockefeller
Foundation and the Joyce Foundation. The
Competition will use a crowd-sourced approach to push the limits of what is
possible to change the world for the better. It will include monetary prizes in
at least four categories, including skills development, income enablement and wage
equality, augmented labor, and public-sector programs. Details on the categories
for prizes will be announced in January 2016 when the competition opens for nominations.
Semi-finalists will be announced in May 2016 and grand prizes will be awarded
in October 2016. Judges will include representatives from industry, academia,
private foundations, and public policy.
more information on the contest, visit http://innovationcompetition.mit.edu.
MIT Initiative on the Digital Economy (IDE) explores how people and businesses
will work, interact, and prosper in an era of profound digital transformation. Working
alone and with public and private sector partners, the IDE supports and
conducts groundbreaking research in the areas of productivity and employment,
big data, new digital business models, and social analytics. The IDE sponsors
fellowships; hosts competitions, conferences, and roundtables; and supports
other events that inspire new ideas. The IDE believes that challenges posed by
the digital economy not only are solvable, but that technology will create new
opportunities for people and businesses to thrive. For more information, visit http://mitsloan.mit.edu/ide.
The MIT Sloan School of
Management is where smart, independent leaders come together to solve problems,
create new organizations, and improve the world. Learn more at mitsloan.mit.edu.