HOBOKEN, NJ – Stevens Institute of Technology has announced the launch of a new $150 million, three-year campaign, "The Power of Stevens," to expand upon the university's historic legacy, educate the leaders of tomorrow's workforce and develop new problem-solving technologies and innovations.
The campaign will support student scholarships, infrastructure improvements, faculty recruitment and continued growth of a significant university research enterprise in critical areas including healthcare, defense and homeland security, coastal sustainability and financial systems.
"This campaign will position Stevens to realize our ambitious strategic goals — to become a premier, student-centric research university that is addressing the most pressing problems of the 21st century," said Stevens President Nariman Farvardin. "It is the vehicle through which current and future generations of Stevens students and faculty will enjoy the facilities, the tools, and the resources to make a significant impact."
The campaign is being initiated at this time in order to leverage a convergence of goals and opportunities, said Stevens officials:
- Stevens is in the midst of carrying out a ten-year strategic plan, "The Future. Ours to Create.," during which the university is growing in size, scope and impact; improving selectivity and academic programming; and expanding research in strategic areas;
- The city of Hoboken recently approved construction of a new Academic Gateway to break ground in spring 2017, which will include 11 high-tech classrooms and four key laboratories;
- Stevens is highly ranked among U.S. universities for career services, mid-career salaries and total return on educational investment, and its faculty appear regularly in national and regional media;
- and Stevens' alumni giving, as well as research funding, have each reached record levels during the past fiscal year.
Robots, transit planning, virtual reality, medical technology on display
The campaign theme and goal were unveiled during a riverfront event hosted by NBC Today Show anchor Natalie Morales and attended by 500 guests.
Framed by the Manhattan skyline, the event began with a recounting of Stevens history and inventions and an early-evening Innovation Festival, during which 19 teams of Stevens students and faculty presented research, devices, prototypes, services and applications currently in development at the university.
Participants showcased robots; a flash flood-warning system; a new type of wheelchair; a device to continually monitor the health of aging bridges; an immersive virtual-reality tour of a New Jersey state park; and engineering plans for a proposed new trans-Hudson River train connecting Hoboken with a Manhattan subway line, among other research.
President Farvardin cited a 500 percent increase in fundraising over the last five years and a 40 percent growth in research funding during the past fiscal year as evidence of Stevens' upward trajectory.
Hall of Achievement, campaign goal, progress unveiled
Following the Innovation Festival, Stevens announced the creation of a new Hall of Achievement honoring extraordinary achievements by university alumni.
Five inaugural inductees were announced: internet pioneer David Farber '56 M.S. '61 Hon.Eng. '99; Wharton School economist Elizabeth Bailey M.S. '66 Hon.Eng. '00; former Verizon vice chairman and president Lawrence Babbio '66; and two posthumous inductees, Nobel Prize-winning physicist Frederick Reines (Class of 1939, Hon.Eng. '84) and General Motors co-founder Charles Stewart Mott (Class of 1897, Hon.Eng. '37).
After remarks by Dr. Samantha Kleinberg, assistant professor of computer science; Matthew Heinrich, one of three first-in-class in the Class of 2016; President Farvardin; and Chairman of the Stevens Board of Trustees Virginia Ruesterholz '83, the Power of Stevens campaign was formally announced by trustees Babbio, who is campaign co-chair, and Lisa Mascolo '82.
Babbio noted that $85 million has already been raised during the "leadership phase" of the campaign, including gifts from all 20 Stevens trustees.
"The university is on the move. We are agile and innovative. The opportunity to make a lasting difference is before us," said Babbio.
"Gifts make things happen," added Mascolo, describing the three primary areas — scholarships, faculty development and facilities such as laboratories and classrooms, the library and athletics facilities — where resources from the campaign will be applied. "This is all about opportunity and making a difference."
"Our graduates have made history with their inventions, their corporate leadership, and their contributions to technological progress," added Farvardin in an accompanying online statement welcoming alumni and external audiences to the campaign. "This campaign will ensure the continuation of this rich tradition."
The evening concluded with refreshments and a riverside fireworks show.
To learn more about "The Power of Stevens: Our Campaign. Our Impact.", visit http://power.stevens.edu.
About Stevens Institute of Technology
Stevens Institute of Technology, The Innovation University®, is a premier, private research university situated in Hoboken, N.J. overlooking the Manhattan skyline. Founded in 1870, technological innovation has been the hallmark and legacy of Stevens’ education and research programs for more than 140 years. Within the university’s three schools and one college, 6,600 undergraduate and graduate students collaborate with nearly 300 full-time faculty members in an interdisciplinary, student-centric, entrepreneurial environment to advance the frontiers of science and leverage technology to confront global challenges. Stevens is home to three national research centers of excellence, as well as joint research programs focused on critical industries such as healthcare, energy, finance, defense, maritime security, STEM education and coastal sustainability. The university is consistently ranked among the nation’s elite for return on investment for students, career services programs and mid-career salaries of alumni. Stevens is in the midst of a 10-year strategic plan, The Future. Ours to Create., designed to further extend the Stevens legacy to create a forward-looking and far-reaching institution with global impact.