The University of Utah has been selected by Schmidt Futures to solicit and develop ideas for ensuring a vibrant middle class in America, according to a release from the office of UofU President Ruth V. Watkins. Schmidt Futures works to advance society through technology, inspire breakthroughs in scientific knowledge and promote shared prosperity through its Alliance for the American Dream initiative, the release said.
The university, along with other Alliance partners, will seek policy and technology ideas from individuals or groups throughout Utah that have the potential to increase net income for 10,000 of the state’s middle-class households by 10 percent by 2020. The initiative includes an initial gift of $1.5 million to the university.
The Alliance for the American Dream is based on the concept that a healthier and larger middle class reduces income disparity and provides enhanced opportunity and economic mobility. Its goal is to increase shared prosperity and American competitiveness by generating and investing in ideas that strengthen the middle class by giving more Americans the skills and opportunities they need to improve their lives, the statement said.
Eric Schmidt is the founder of Schmidt Futures. Schmidt is a technical advisor to Alphabet Inc., a member of its board of directors and its former executive chairman. Alphabet Inc. is the parent company of Google.
“Today, too many middle-class families find themselves at risk of falling into poverty, while too few see a path to build a brighter future for their children,” Schmidt said in announcing the project. “America needs a strong middle class. Our future depends on it.”
Schmidt said the best ideas will come from people working together, in their own communities, using an interdisciplinary approach grounded in facts, data science and diverse perspectives. Ideas on how to strengthen and enable access to the middle class might target raising income or decreasing costs of such necessities as transportation, housing, utilities and food.
“We are happy to welcome the University of Utah as an inaugural partner in the Alliance for the American Dream,” said Schmidt.
Courtney McBeth, project director and special assistant to the president, will direct the UofU’s participation in the alliance. The university will launch a process in coming weeks to solicit ideas from throughout the state by late fall. Ten proposals will be selected and each will receive up to $10,000 to further develop the idea.