The U.S. presidential candidate Hillary Clinton has announced her technology and innovation policy, which according to her, would harness the power of energy, manufacturing, transportation, health, retail, services, and countless other sectors such as Information Technology to produce trillions of dollars in economic output and would create high-paying jobs across the country, bring more people into the workforce and reduce inequality.
This would be achieved by focussing on technology, promoting entrepreneurial ecosystem, new commitments in computer science and STEM (Science, Technology, Engineering, and Mathematics) education including other policies which would build the human capital pipelines.
She pointed out that only one-in-five school students in America has ever taken a computer science course with only 7 percent of country’s high schools even offering an Advanced Placement Course in Computer Science as against over half a million good-paying tech jobs unfilled and by 2020, the requirement would rise to 1.4 million such jobs.
She pledged her support to the Obama administration’s ‘Computer Science Education for All’ initiative and to build on it by launching the next generation of ‘Investing in Innovation (i3) grants’ – as sustained in the Every Student Succeeds Act (ESSA) as the Education Innovation and Research Program.
While lamenting on the lack of STEM programming in schools, especially those with high number of ‘students with colour’, she promised to bring down this inequality by promoting development of innovative schools such as Science Leadership Academy of Philadelphia.
In order to build the Human talent pipeline for 21st-century jobs, Hillary has pointed out that only 7 percent of all VC funding goes to firms with women founders, and a mere 1 percent directed towards African-American women. She has suggested to invest $10 billion in federal funding to enable students (especially minorities) to participate in promising new programs such as nanodegrees, accelerated learning programs for computer coding, career and technical training, certificates for ‘specializations’, and online learning through her ‘College Plan’.
This college plan would fund $25 billion to support colleges which serve minority students since diversifying workforce can create an additional $500 billion and boost GDP up to 1.6 percent. She has also promised to defer student’s loan to promote young entrepreneurs and forgiveness of students loan up to $17,500 after five years for innovators working in distressed communities or social enterprise that provide measurable social impact.
Hillary also plans to deploy 5G wireless networks and other viable solutions in the areas of safety, environment and traffic congestion among few which would be vital to strengthen the American economy.