Over the next several years, approximately $1 billion will be spent on innovation in education through federal grant programs, nonprofits, and community organizations. Helping to spearhead this effort in the nonprofit sector is the NewSchools Venture Fund, a philanthropy dedicated to improving public education by ensuring that all children, particularly those in underserved communities, have the opportunity to succeed.

“The idea of innovation in education has captured the attention of parents, educators, and the general public,” Ted Mitchell, president and CEO of NewSchools, said. “And at the same time, it’s become a federal education priority.”

Since it launched in 1998, …