Chegg Backs Student Startups with $50K Stevens Institute Innovation Grant

The donation will provide funding for student-led startups, covering essential materials, supplies, and technology to accelerate their ventures.

HOBOKEN, N.J.--(BUSINESS WIRE)-- Chegg, a leading student-first online learning platform, announced today a $50,000 donation to Stevens Institute of Technology’s iSTEM and Launchpad@Stevens programs from the Chegg.org Impact Fund–marking the first-ever matching gift to expand the program’s impact beyond the university.

"Chegg truly understands the modern student experience, and we are proud to support institutions that are reimagining curriculum to better engage and assess students,” said Nathan Schultz, Chegg CEO. “The iSTEM program is a shining example of how innovation in education can empower students to turn bold ideas into reality. This gift reaffirms our commitment to championing forward-thinking programs that challenge the status quo and drive meaningful change.”

As part of this commitment, up to $5,000 will be allocated to ten iSTEM and Launchpad student startups to cover materials, supplies, and essential support, including hardware, software, and raw materials, to accelerate their entrepreneurial efforts.

“Real change happens at the intersection of education, innovation, and entrepreneurship,” said Dr. Marshall Anthony Jr., Director of Public Affairs and Policy at Chegg. “Stevens’ commitment to supporting students with learning differences through programs like iSTEM and Launchpad aligns with our mission to equip students with the tools and confidence to succeed. By supporting these initiatives, we are expanding access to STEM careers for students from historically marginalized backgrounds and empowering them to shape the future.”

This contribution builds on a transformative $10 million donation from distinguished engineer and Stevens Emeritus Trustee Emilio A. Fernandez, designed to scale the university’s groundbreaking iSTEM program. With anticipated matching gifts totaling $7.5 million, the total external investment in the program is expected to reach $17.5 million.

"This transformative gift will allow us to identify and nurture exceptional students who think differently. Since launching iSTEM in 2019, we’ve seen remarkable success – from a 95% retention rate to students raising over $5 million in capital,” said Nariman Farvardin, President of Stevens Institute of Technology. “With Chegg’s generous matching gift, we can empower even more unconventional innovators - students who may not fit the traditional academic mold but have the creative genius to solve tomorrow’s toughest challenges."

iSTEM is designed for exceptionally talented students who have struggled in traditional academic environments, empowering them to harness their creativity and innovative thinking to solve real-world problems, develop cutting-edge technologies, and launch successful businesses.

“We are thrilled to accept this generous gift from Chegg to further the iSTEM initiative. As the founding director of iSTEM, I have witnessed firsthand the incredible things our students are able to bring to life when we support them in chasing their dreams,” said Mukund Iyengar, founder and director of iSTEM. “iSTEM students are unconventional geniuses. They have shown, again and again, that they can solve pressing world problems in the most entrepreneurial way with support and guidance. We are grateful to Chegg for enabling more students to build their dreams.”

This partnership between Chegg and Stevens Institute of Technology reinforces a shared commitment to fostering innovation and unlocking opportunities for the next generation of STEM leaders.

About Chegg

Chegg provides individualized learning support to students as they pursue their educational journeys. Available on demand 24/7 and powered by over a decade of learning insights, the Chegg platform offers students AI-powered academic support thoughtfully designed for education coupled with access to a vast network of subject matter experts who ensure quality. No matter the goal, level, or style, Chegg helps millions of students around the world learn with confidence by helping them build essential academic, life, and job skills to achieve success. Chegg is a publicly held company and trades on the NYSE under the symbol CHGG. The Chegg.org Impact Fund, a donor-advised fund at Tides Foundation, has granted out over $3 million since Chegg launched it in 2019. For more information, visit www.chegg.com.

About Stevens Institute of Technology

Stevens Institute of Technology is a premier, private research university in Hoboken, New Jersey. Since 1870, technological innovation has been the hallmark and legacy of Stevens' education and research programs. Within the university's three schools, nearly 9,000 undergraduate and graduate students collaborate closely with faculty in an interdisciplinary, student-centric, entrepreneurial environment. Academic and research programs spanning business, computing, engineering, the arts and other fields actively advance the frontiers of science and leverage technology to confront global challenges. Stevens is consistently ranked among the nation's elite for return on investment for students, career services programs and mid-career salaries of alumni.