WOODBRIDGE, NEW JERSEY -- Stevens Institute of Technology of Hoboken received the “Knowledge is Power” Award from the New Jersey Tech Council (NJTC) on Thursday, November 19 at NJTC’s annual ceremony to celebrate innovation, partnership and collaboration in the region’s tech industry.
Stevens was named recipient of the Knowledge is Power award in recognition of its active and consistent support for the technology industry in the greater New Jersey area. From fusing technology and medicine to create sophisticated techniques for fighting cancer, to pioneering the future of coastal sustainability and resiliency including hurricane resistant home design, Stevens was recognized for its innovations that advance the state’s burgeoning tech sector.
“We take great pride in our identity as an engine of technological innovation,” said Dr. Nariman Farvardin, President of Stevens. “We are delighted to receive the ’Knowledge is Power’ Award and applaud the unwavering efforts of the New Jersey Technology Council for its leadership and advocacy on behalf of New Jersey’s tech sector.”
As a leading, private, technological institution, Stevens contributes to the growth of the tech industry in five ways – its innovative educational model, its extensive alumni network, its groundbreaking research, its commercialization of technology, and its unique partnerships. Beyond the tech sector contribution, the research and graduates of Stevens are helping to fuel New Jersey’s economy.
Stevens’ undergraduate and graduate education model emphasizes technological innovation and entrepreneurship. All entering engineering students are required to complete a freshman-level course on entrepreneurship. Since 2014, 29 teams from this class were accepted by Kickstarter, the premium crowd-funding site, and one team reached $10,000 in crowdsourced funding.
Once students graduate, they become part of an extensive alumni network. Stevens graduates contribute as technological leaders in large technology companies in New Jersey and internationally, including General Motors, Texas Instruments, Becton Dickinson, Verizon, Lockheed Martin,
Exxon Mobile, LG Display and Samsung.
Research at Stevens is integrally connected to industry, with a specific focus on technological innovation and commercialization. The priority of the University’s 10-year Strategic Plan is the pursuit of research aligned with areas of opportunity and economic growth in New Jersey and nationally: in healthcare and medicine; sustainable energy; financial systems; defense and security; and, science, technology, engineering and mathematics (STEM) education.
· The Biotechnology and Drug Discovery Laboratory of Stevens’ Center for Healthcare Innovation, in which researchers are employing a new innovative, computational technology that can save years — and millions of dollars — in the search for new cures, medications and therapies targeting ailments such as cancer.
· A $2-million contract from the Department of Homeland Security (DHS) Science and Technology Directorate (S&T) to improve detection of threats coming into the U.S. through container shipments.
· Research in quantitative finance, financial analytics, financial engineering, risk management, strategy, modeling and analysis assists those involved in these tech-based fields to understand and manage today’s complex global financial markets. This research has led to partnerships with companies such as Accenture.
· Stevens’ award-winning entry in the U.S. Department of Energy’s Solar Decathlon, SU+RE House (for SUstainability + REsilience), operates on 90 percent less energy than a comparably sized house and is training tomorrow’s experts in the complexities of sustainability. The innovations in the home are the result of enhanced technology that will become the basis for the future of coastal housing, creating an entirely new dimension to the home-building industry.
· A Stevens venture, the NJ based software company, Castle Point Learning Systems, was founded by two eminent mathematicians on the faculty at Stevens Institute of Technology.
Moreover, Stevens’ deliberate efforts to expand its legacy and expertise in technological innovation, have resulted in significant national attention, including:
· A No. 3 ranking among U.S. universities in net Return on Investment, according to Payscale.com. During the next 20 years, Class of 2014 Stevens graduates can expect an 8.1 percent return annually on the cost of their education.
· A 103 percent increase in applications over the past five years.
· A jump of 41 percent for sponsored research.