A Denver-based investment group will soon launch a national contest meant to help scale up great ideas in the early childhood field — specifically efforts focused on children birth to 3 years old.
Gary Community Investments announced its Early Childhood Innovation Prize on Wednesday morning at a conference in San Francisco. It’s sort of like the television show “Shark Tank,” but without the TV cameras, celebrity judges and nail-biting live pitch.
The contest will divvy up $1 million in prize money to at least three winners, one at the beginning stages of concept development, one at a mid-level stage and one at an advanced stage. Gary officials say there could be more than one winner in each category.
The contest will officially launch Oct. 25, with submissions due Feb. 15 and winners announced in May. (Gary Community Investments, through the Piton Foundation, is a Chalkbeat funder.)
Officials at Gary Community Investments, founded by oilman Sam Gary, say the contest will help the organization focus on finding solutions that address trouble spots in the early childhood arena.
The birth-to-3 zone is one such spot. While it’s an especially critical time for children because of the amount of brain development that occurs during that time, it’s often overshadowed by efforts targeting 4- or 5-year-olds.
Steffanie Clothier, Gary’s child development investment director, said leaders there decided on a monetary challenge after talking with a number of other organizations that offer prizes for innovative ideas or projects.
One foundation they consulted described lackluster responses to routine grant programs, but lots of enthusiasm for contests with financial stakes, she said.
“There’s some galvanizing opportunity to a prize,” she said.
But Gary’s new prize isn’t solely about giving away money to create or expand promising programs. It will also include an online networking platform meant to connect applicants with mentors, partners or investors.
“We’re trying to figure out how to make it not just about the winners,” Clothier said.