SkyWater Foundation’s First Annual College Scholarship Program Awards $100,000 in Support of U.S. Workforce Development
27 June 2023 - 9:05PM
Business Wire
Recipients include students pursuing
critical STEM career paths
SkyWater Technology (NASDAQ: SKYT), the trusted technology
realization partner, today announced 10 recipients have been
selected by Scholarship America to receive $10,000 each through the
launch of SkyWater Foundation’s annual Scholarship Program, thanks
to the generous support of the Oxbow Foundation. While the
scholarship application process was open to students in any major
or field of study, applicants pursuing a certificate or degree in
STEM (science, technology, engineering and mathematics) were
especially encouraged to apply. Scholarship America received over
1100 applications for SkyWater Foundation’s scholarships over the
course of 12 days.
Applicant eligibility included: high school graduates or current
college undergraduates who plan to enroll in full-time
undergraduate study at an accredited two-or-four-year college,
university or vocational-technical school for the entire 2023-2024
academic year with a minimum grade point average of 3.0 on a 4.0
scale (or its equivalent). Competitive applicants were considered
by academic record, demonstrated leadership, extracurricular
activities and a statement of educational and career goals and
objectives.
The SkyWater Foundation Scholarship Program is helping students
like Victoria A. from Georgia pursue their goals in higher
education. As valedictorian of her high school class, a soon-to-be
freshman at Duke University and a first-generation college student,
she said, “This scholarship is enabling me to attend a private,
out-of-state university which would otherwise be implausible for
me.” Hers is a testament of how “these scholarships truly aid
students who matriculate into institutions in hopes of financial
and career-wise success for their families.”
With $10,000 awarded to each of the 10 recipients, the students
are attending a range of universities from Georgia Institute of
Technology to MIT and Stanford, among others. The areas of study
include STEM-focused majors such as computer science and electrical
engineering as well as areas like business, commerce, finance and
others.
According to Amanda Daniel, SkyWater’s chief people officer,
“The scholarships awarded by the Foundation will help students
realize their academic dreams by making their education more
accessible, leading to promising career opportunities. It also
contributes to the on-going effort of industry to work with
institutions in support of domestic workforce development. In
particular, STEM education is central to the revitalization of the
U.S. semiconductor industry, and we are committed to working with
local and national communities to develop the critical talent
needed for the future.”
In a world where nearly 70% of new jobs require a bachelor’s
degree, but fewer than 50% of workers have one (according to
nonprofit Opportunity@Work), these scholarships are helping bridge
that gap and equip students with the education they need for
promising career paths. In a 2021 report from the Georgetown
University Center on Education and the Workforce, adults with a
bachelor’s degree earn an average of $2.8 million during their
careers – $1.2 million more than the median for workers with a high
school diploma.
"The board of the Oxbow Foundation is thrilled to be a major
contributor to the SkyWater Foundation Scholarship Program and to
witness the transformative impact it has on students like
Victoria,” said Oxbow Foundation director, Julia Unterseher. “By
providing financial support, we are enabling talented individuals
to pursue their educational goals and unlock opportunities for
themselves and their families.”
Added director Elise Unterseher, "The Oxbow Foundation is proud
to contribute to the advancement of STEM education and the
development of future leaders in the semiconductor industry. The
SkyWater Foundation Scholarship Program makes education more
accessible and aligns with our commitment to fostering education.
These scholarships are empowering students to pursue higher
education and unlock greater earning potential, setting them up for
success in their future careers.”
About SkyWater Foundation’s Annual Scholarship Program
The Oxbow Foundation and SkyWater Technology, Inc. in partnership
have established the SkyWater Foundation Fund, Inc. to offer a
college scholarship program. Annually, The Oxbow Foundation expects
to contribute up to $100,000 to the program for up to 10 students.
The maximum annual award provided to any recipient is $10,000. The
SkyWater Foundation has selected Scholarship America, a non-profit
organization, to manage and administer the scholarship program.
The SkyWater Foundation Scholarship Program may be cancelled or
terminated at the discretion of the Oxbow Foundation and/or the
Board of Directors of SkyWater Technology, Inc. at any time.
About SkyWater Technology SkyWater (NASDAQ: SKYT) is a
U.S.-based semiconductor manufacturer and a DMEA-accredited
Category 1A Trusted Foundry. SkyWater’s Technology as a Service
model streamlines the path to production for customers with
development services, volume production and heterogeneous
integration solutions in its world-class U.S. facilities. This
pioneering model enables innovators to co-create the next wave of
technology with diverse categories including mixed-signal CMOS,
ROICs, rad-hard ICs, power management, MEMS, superconducting ICs,
photonics, carbon nanotubes and interposers. SkyWater serves
growing markets including aerospace & defense, automotive,
biomedical, cloud & computing, consumer, industrial and IoT.
For more information, visit www.skywatertechnology.com/.
SkyWater Technology Forward-Looking Statements This press
release contains “forward-looking” statements within the meaning of
the Private Securities Litigation Reform Act of 1995, including
statements that are based on the Company’s current expectations or
forecasts of future events, rather than past events and outcomes,
and such statements are not guarantees of future performance.
Forward-looking statements are subject to risks, uncertainties and
assumptions, which may cause the Company’s actual results,
performance or achievements to be materially different from those
expressed or implied by such forward-looking statements. Key
factors that could cause the Company’s actual results to be
different than expected or anticipated include, but are not limited
to, factors discussed in the “Risk Factors” section of its annual
report on Form 10-K and quarterly reports on Form 10-Q, and in
other documents that the Company files with the SEC, which are
available at http://www.sec.gov. The Company assumes no obligation
to update any forward-looking statements, which speak only as of
the date of this press release.
SKYT-CORP
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