The $1 Billion Wage Gain Challenge is a moonshot to address wage stagnation.
Our goal is to help fuel a movement that results in meaningful wage gains for workers across the country. Much like the concept of a $1 billion “unicorn” startup in Silicon Valley, this is a $1 billion unicorn to grow the middle class. We’ll source new and existing ideas, highlight promising examples. We’ll encourage the workforce field to explore innovative approaches and call on players from other fields to address this challenge.
This challenge focuses on one tangible metric: raising the annual wages of at least 100,000 US workers by $10,000 or more by 2021. In doing so, we intend to identify, spotlight, and accelerate effective and promising ways to meaningfully increase annual incomes and expand the middle class. Applications open September 24 and close January 13.
The competition is supported by Schmidt Futures, and will be complementary and connected to its efforts in the Alliance for the American Dream. Schmidt Futures works to advance society through technology, inspire breakthroughs in scientific knowledge, and promote shared prosperity. As a venture facility for public benefit, Schmidt Futures drives discovery through investment in people, platforms, and partnerships.
Finalists will gain national recognition for their ideas and opportunities to meet new partners and peers. They will participate in a pitch event in 2019.
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