100Kin10, a multi-sector partnership committed to training a hundred thousand science, technology, engineering and math (STEM) teachers over the next decade, has announced the creation of its second Innovation Fund, with a target of $20 million.
Founded in 2011 by the Carnegie Corporation of New York and Opportunity Equation, an initiative of Carnegie and the Institute for Advanced Study that works to promote equity and excellence in math and science education, 100Kin10 will invest funds committed to its Innovation Fund II in entrepreneurial approaches to the recruitment, training, hiring, development, and retention of additional high-quality STEM teachers nationwide. Initial commitments to the new fund total $5 million, including $3 million from the Samueli Foundation and $1 million each from the Amgen Foundation and the John D. and Catherine T. MacArthur Foundation.
The structure of the fund allows funders to maintain control over how their commitments are invested in projects proposed by the initiative's more than one hundred innovation partners. 100Kin10 is currently accepting nominations for new partners.
"Through 100Kin10, funders are making focused investments in organizations that are committed to changing the way we identify, prepare and retain strong STEM teachers in our nation," said Amgen Foundation president Jean Lim Terra. "With the new fund we can provide critical support to innovators that are driven to build the tools and approaches best able to impact the quality of teaching."