Stevens Institute of Technology received a transformative $10 million gift from engineer and Stevens Emeritus Trustee Emilio A. Fernandez to significantly expand and enhance the university’s groundbreaking iSTEM program. This generous contribution, combined with $7.5 million in anticipated matching gifts, will bring the total external investment in the program to $17.5 million.
Launched in 2019 and inspired by the vision and personal experience of Fernandez, iSTEM is a selective program that empowers exceptionally talented students who may have experienced challenges or boredom in traditional academic environments but show uncommon creativity and excellence.
The program harnesses these students’ unique ways of thinking and innovative approaches to solve real-world problems, create cutting-edge technologies and launch successful businesses.
iSTEM welcomes students who demonstrate distinctive problem-solving skills and entrepreneurial drive, regardless of their academic background. Importantly, the admission requirements for the iSTEM program offer flexibility, thereby allowing students who recognize themselves in the program’s mission to self-identify and apply.
“We are immensely fortunate that Emilio A. Fernandez’s creative genius and insightful vision inspired the iSTEM program at Stevens and that his continued involvement and support will ensure the program achieves its greatest potential,” Nariman Farvardin, president of Stevens Institute of Technology, said. “This extraordinary gift will allow us to dramatically scale up our iSTEM program, empowering more unconventional geniuses to realize their full potential.”
The expanded program, supported by this pivotal grant, will evolve from iSTEM 1.0 to iSTEM 2.0+, over time, including a number of activities such as the following:
- Increase the number of students impacted, growing from 12 new students per year to 20
- Enhance recruitment and identification of iSTEM students
- Implement a pre-college summer program
- Strengthen academic monitoring and support systems
- Formalize an active iSTEM alumni network
“Looking back on my own academic experience, I was bored in a traditional classroom environment and would’ve benefited from the support of a program like iSTEM,” Fernandez said. “I’m proud to support Stevens in nurturing these remarkable individuals and ensure that all students are able to reach their fullest potential.”
The gift will establish the iSTEM Endowed Fund, ensuring the program’s long-term sustainability. Additionally, the Startup Garage, a makerspace with state-of-the-art technology and equipment, will be named the Emilio A. Fernandez iSTEM Startup Garage in recognition of Fernandez’s visionary support, among other forms of recognition for this groundbreaking and generous gift.
