New Investments in iSTEM Are Carving Path to Success for Passionate Creators
Launched five years ago, iSTEM has already proven its value as a vehicle for identifying and nurturing talented innovators. A transformative gift from its founder, Emilio A. Fernandez, will further expand the iSTEM program to empower more talented students to use their innovative thinking to shape the future.
Dr. Mukund Iyengar, director of the university’s Center for Entrepreneurship Education and founder and director of iSTEM@Stevens, likes to encourage his iSTEM students to lean into their talents. One of his favorite questions is, “What would you do if you had no fear?”
Iyengar’s confidence in his students is more than matched by that of Emeritus Trustee Emilio A. Fernandez, whose generosity established iSTEM at Stevens in 2019. Since then, students in iSTEM have achieved a 95% retention rate – higher than the Stevens average. They have created at least six new enterprises, raising more than $5 million in capital. Fifteen iSTEM graduates to date are all either employed in large corporations or leading their own innovative early-stage companies.
“iSTEM has an immediate impact on students,” Iyengar shared. “Most iSTEM students would have a difficult time getting accepted into college at all, let alone an elite STEM school like Stevens.”
Regardless of their academic standing in high school, iSTEM students are highly creative, and highly capable. iSTEM nurtures their natural abilities with the tools and support they need to pursue bold ideas and persist toward graduation. “We teach them to listen to their own inner voice,” Iyengar added. “Each iSTEM student is special. Once they grasp that, and uncover what interests them most, they are all in.”
Third-year students Jack Patterson, Aidan Ruck and Aidan Nestor, majoring in computer science, computer engineering and software engineering, respectively, are already well on their way. Their intuitive ticket sales platform, Aventix, uses NFT tickets – digital tickets stored and managed on a blockchain – to take the stress, and excessive fees, out of attending ticketed events.
Computer engineering major Lily Stone, Class of 2026, is using her gifts to support fellow members of the neurodivergent community. iSTEM is supporting her development of Amplifly, an AI-powered app that uses the Oura ring to help clients manage the stress, sleep and energy patterns of neurodivergent minds. Stone also plans to create a video game that shows what it is like to be neurodivergent in a neurotypical world.
“In iSTEM, I found a community that really accepts me and sees me for who I am,” Stone said. “I have a passion for neurodivergence and want to create things that change the way the world sees neurodivergent people. Thanks to iSTEM, I am able to make these dreams come true.”
In September 2025, Stevens announced a transformative gift totaling $10 million from Fernandez to enhance and expand iSTEM. An additional $7.5 million in anticipated matching gifts will bring the total external investment in iSTEM to $17.5 million.
“iSTEM is reaching out to talented and creative individuals who might otherwise be overlooked by college recruiters and helping them pursue success at a very special institution,” Iyengar said. “The results are spectacular.”
