Having immersed himself in educational theories while home-schooling his kids, Will Smith says he and his wife, Jada Pinkett Smith, plan to put that knowledge to greater use by teaming with like-minded parents and creating a full school.

The institution could launch next year, Smith, 39, said Wednesday on Live with Regis & Kelly. He didn’t offer details, but said the idea came out of his family’s experience in grouping home-schooled children together.

"We started home-schooling our children probably six years ago," he said. "We found about eight or nine other parents that home-school, so we put them together. … There’s just very powerful educational concepts that we believe in, and we feel like ‘I want to design the system that revolutionizes public education.’ "

The Smiths have two children together: Jaden, 9, and Willow, 7.

In 2005, Jada Pinkett Smith told Essence that the decision to home-school was based partly on the family’s extensive travel schedule – but also on dissatisfaction with the other options.

Will Smith

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