Can tech innovation make guns safer?

As the U.S. Senate takes up gun legislation in Washington, DC , Dr. Gary Lampert (L), a co-owner of the National Armory gun store, helps Cristiana Verro consider fire arms on April 11, 2013 in Pompano Beach, Florida. The Senate voted 68-31 to begin debate on a bill that would significantly expand background checks for gun sales.

A group of tech investors in San Francisco think it might be the answer. They've formed a group called the Smart Tech Foundation, and set out a challenge. They're offering $1 million to entrepreneurs with ideas to make firearms safer.

Rates of gun violence have been dropping in the U.S. for at least five years.

That said, you're still more likely to die from gunfire in this country — almost 20 times more likely — than in any other wealthy, industrialized nation. That's according to a study commissioned by President Obama, in the wake of the Sandy Hook elementary school massacre.

There are many ideas for how to curb gun violence, including increasing security and enacting tougher gun control laws. But what about technology?

A group of tech investors in San Francisco think it might be the answer. They've formed a group called the Smart Tech Foundation, and set out a challenge. They're offering $1 million to entrepreneurs with ideas to make firearms safer.

Jim Pitkow, director of the Smart Tech Foundation, joins the show with more.