Originally published in Yahoo! Finance.
The Xometry Scholars Program is part of the company’s commitment to support sustainability and educational initiatives through Xometry.org
ROCKVILLE, Md., Oct. 01, 2021 (GLOBE NEWSWIRE) — Xometry, Inc. (NASDAQ: XMTR), a leading AI-enabled marketplace for on-demand manufacturing, today announced the creation of the Xometry Scholars Program in partnership with Howard University. Xometry will pledge more than $900,000 to provide eight scholarships over the next four school years to students enrolled in the Department of Mechanical Engineering at the Howard University College of Engineering and Architecture.
In conjunction with Manufacturing Day, which seeks to raise awareness about advanced manufacturing careers and prepare the current and next-generation workforce for the skills and jobs of the future, the scholarships will be awarded to students in need who are studying for a mechanical engineering undergraduate degree and are interested in pursuing a career in manufacturing.
“Manufacturing and Design is one of the top competencies within the Department of Mechanical Engineering, so this partnership in support of historically underserved and underrepresented groups of STEM students is incredibly timely. By enabling students to acquire the top-notch training we provide and current knowledge of industry practices, there is a win-win future where the current manufacturing skills gap is reduced and the US human capital pool can continue to remain relevant and become the model,” said Nadir Yilmaz, Ph.D., P.E., chair of the Department of Mechanical Engineering at the Howard University College of Engineering and Architecture.
The creation of the Xometry Scholars Program is part of the Xometry.org donor-advised fund launched earlier this year. This initiative is dedicated to supporting sustainable manufacturing initiatives and providing educational opportunities for underrepresented communities.
Under the Xometry.org program, over the next five years, Xometry will pledge 1% of its equity to fund educational opportunities for underrepresented students, environmental conservation efforts, and a variety of socioeconomic causes to build a more sustainable future. The program will focus on continuing education, early education, energy production, and conservation.
“Xometry has always supported causes ranging from education to environmental conservation to civic responsibility and we are proud to formalize this program through the creation of the Xometry Scholars Program,” said Laurence Zuriff, Co-Founder and Chief Strategy Officer of Xometry. “Part of re-establishing U.S. manufacturing leadership is expanding the cohort of talented mechanical engineers, machinists, and technicians. In order to accelerate innovation, the U.S. needs more than just material infrastructure. It needs to invest in training the next generation with the skills that are essential to modern manufacturing. We are proud to do what we can to make an impact here.”
According to a recent report by Deloitte and the Manufacturing Institute, the worker shortage in manufacturing has been exacerbated by the COVID-19 pandemic. Xometry’s priority is to support underrepresented communities in STEM across the United States through tuition support, particularly for those pursuing mechanical engineering degrees and vocational training to simultaneously provide new opportunities for underrepresented communities while addressing the manufacturing skill shortage and subsequently revitalizing U.S. manufacturing.
The Xometry.org program will also support efforts to increase clean energy production and will devote significant funds to offsetting carbon emissions through land and sea conservation. In 2020, the company implemented a carbon offset program within its Xometry Instant Quoting Engine, which calculates each order’s estimated carbon footprint and the cost to offset the emissions.
For more information about Xometry.org, please visit www.xometry.org.
Xometry is a leading AI-enabled marketplace for on-demand manufacturing, transforming one of the largest industries in the world. Xometry uses its proprietary technology to create a marketplace that enables buyers to efficiently source on-demand manufactured parts and assemblies, and empowers sellers of manufacturing services to grow their businesses. Xometry’s buyers range from self-funded startups to Fortune 100 companies. Learn more at www.xometry.com or follow @xometry.
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