In announcing nonprofit promoting science and math, Obama says education is key to economy

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Obama says education is key to innovation

WASHINGTON — President Barack Obama says innovation is key to the country’s economic future but that innovation depends on students developing their skills in science, technology, engineering and math.

As part of an effort to promote those subjects, Obama announced Thursday a nonprofit organization called Change the Equation. It’s designed to bring successful, privately funded programs to 100 schools and communities that are most in need.

More than 100 corporate CEOs have agreed to work together to help improve student performance in those fields.

Former astronaut Sally Ride and current and former executives from Intel, Xerox, Time Warner Cable and Eastman Kodak founded the nonprofit organization.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s earlier story is below.

WASHINGTON (AP) — President Barack Obama is announcing that 100 corporate CEOs will collaborate to support his goal of improving student performance in the fields of science, technology, engineering and math education.

The CEOs have created a nonprofit organization called Change the Equation, designed to bring successful, privately funded programs to 100 schools and communities most in need. Some of the programs will expand summer science camps for girls, boost the number of students taking advanced math and science courses and provide professional development for math teachers.

The nonprofit was founded by former astronaut Sally Ride and current and former CEOs from Intel, Xerox, Time Warner Cable and Eastman Kodak.