Xometry Inc. (NASDAQ: XMTR) has launched the Xometry Foundation, a philanthropic initiative committing $1 million per year to support STEM education, community impact, and U.S. workforce development programs. The foundation aims to expand opportunity through education, community investment, and the development of the next generation of engineers and manufacturing talent.

The initiative evolves Xometry's previous pledge to contribute 1% of company equity toward scholarships into a structured program with national and regional partnerships. The company stated that workforce development initiatives under this foundation will launch later this year.

Strategic Partnerships

The foundation has established partnerships with several key organizations to advance its educational goals. These collaborations focus on removing financial barriers and providing hands-on engineering experiences.

Randy Altschuler, Co-founder and CEO at Xometry, emphasized the importance of the initiative amid the industry's digital transformation. He stated that the foundation is a commitment to strengthen the manufacturing ecosystem by removing barriers to education and fostering innovation at every level.

Expanding Access to Resources

In addition to the foundation, Xometry recently launched the Innovators Program, which connects student engineers and manufacturing innovators with tools to bring designs to life. This program offers undergraduate student groups access to parts discounts, educational resources, and engineering mentorship. Participating universities include Lehigh University, Massachusetts Institute of Technology, Purdue University, the University of Pittsburgh, the University of Texas at Austin, and the University of Vermont.