The nomination deadline for the second annual MIT Inclusive Innovation Challenge is coming up on June 21 at 6 p.m.

The Inclusive Innovation Challenge is a program of the MIT Initiative on the Digital Economy. The challenge will award more than $1 million to what organizers call “heroes of the digital economy.” These companies are using technology to reinvent the future of work and create a more equitable economy.

“Productivity is at record levels, innovation has never been faster, and yet at the same time, we have a falling median income and fewer jobs,” said Erik Brynjolfsson, director of the IDE. “People are falling behind because technology is advancing so fast and our skills and organizations aren’t keeping up.”

Four grand prize winners will be awarded $150,000 each, and 12 winners will receive $35,000 each.

Both for-profit and non-profit organizations are eligible.

After nominating, companies have until June 26 to submit an application. Finalists will be notified on July 31, and an awards celebration is scheduled for October 12 in Cambridge, Mass.

The 2017 Inclusive Innovation Challenge categories are:

• Skills Development & Opportunity Matching
• Income Growth & Job Creation
• Technology Access
• Financial Inclusion

For additional information about the program and to nominate an organization, click here.

Photo credit: MIT IDE