Textbook publisher Houghton Mifflin Harcourt has announced it is making a $400 million investment to support innovative ideas for new products in the classroom.
The $100 million HMH Innovation Fund will promote solutions aimed at engaging not only students, but also teachers, administrators and parents, by creating a process for developing and executing innovative ideas that solve teaching and learning challenges.
Houghton Mifflin Harcourt also plans to invest $300 million over the next three years to develop innovation centers in the United States and Ireland. Portions of the fund have already gone to develop a one-year pilot algebra program in California using the Apple iPad.
By introducing new technology such as an iPad, an interactive whiteboard or a classroom projector, students are encouraged to show higher levels of involvement in the classroom.
“We have created an environment and a structure to foster and support incubation of new ideas,” said Fiona O’Carroll, Houghton Mifflin Harcourt’s executive vice president of new ventures.
Houghton Mifflin Harcourt’s fund markets an innovative change in the publishing industry as well. According to Reuters, textbook publishers have faced potential sales declines because state and local governments are limiting spending to cope with budget deficits.
