SALT LAKE CITY — On Friday the University of Utah announced three finalists for the 2020 American Dream Ideas Challenge.
Sponsored by the philanthropic organization Schmidt Futures, the American Dream Ideas Challenge provides funding to proposals aimed at economically improving Utah’s middle class. The University of Utah received 42 submissions this year.
The three finalists are proposing increasing the use of tax credits among eligible Utahns, developing preventative mental health services and building a higher education platform to drive college completion. Each team will receive $30,000 to continue to refine their ideas.
The finalists were selected after presenting to a community advisory board co-chaired by University of Utah President Ruth Watkins and Lt. Gov. Spencer Cox in January.
“It was a wonderful experience to be part of the evaluating team,” Cox said. “The projects the American Dream Ideas Challenge national board will receive from Utah are compelling, technologically advanced and true models to quickly advance the income of middle class Utahns.”
In March the three local finalists will compete against teams from Ohio State University, Arizona State University and the University of Wisconsin-Madison, pitching their ideas to the advisory board of Schmidt Futures. The winners will move on to the final round of competition this summer and are eligible for up to $1 million in funding from Schmidt Futures.
Last year’s top Utah finalist, the Utah Coal Country Strike Team, placed second in the national competition and was awarded $1.4 million in funding from Schmidt Futures, the University of Utah and the Utah Legislature. The team is working to improve the struggling coal reliant economies of Carbon and Emery counties through workforce training, tourism infrastructure, housing access and economic development.