BETHESDA, Md., Nov. 15, 2018 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) today launched a science, technology, engineering and math (STEM) scholarship program for high school and college undergraduate students planning to pursue a major in engineering and computer science.

Beginning in 2019, the Lockheed Martin STEM Scholarship program will award a $10,000 annual scholarship to 200 recipients who demonstrate financial need and come from underrepresented or underserved communities. Recipients may renew the scholarship up to three times for a total potential value of $40,000 per student.

"We are looking for students who are creative and innovative – skills that are necessary for success in today's high-tech economy," said Patricia L. Lewis, Lockheed Martin senior vice president of Human Resources. "As a global leader in innovation, Lockheed Martin is focused on growing and inspiring the next generation of STEM talent that will help our customers tackle the world's toughest challenges and shape the future."

The STEM Scholarship program will continue to add up to 200 new recipients each year for a minimum total investment of $30 million over five years. The program is part of a series of investments Lockheed Martin is making in education and innovation as a direct result of tax reform.

Mentoring opportunities will be a key component of the program, and recipients will also be eligible for Lockheed Martin internship opportunities following their freshman year in college.

The application period opens on January 15, 2019, and will be administered by Scholarship America, an organization with more than 60 years of experience designing and managing scholarship programs.

Visit the STEM Scholarship page at lockheedmartin.com/scholarship to learn more about eligibility requirements and to be notified when the scholarship application opens.

About Lockheed Martin

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 100,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. This year, the company received three Edison awards for groundbreaking innovations in autonomy, satellite technology and directed energy.

Supporting Quotes:

Society of Hispanic Professional Engineers (SHPE)

"What Lockheed Martin is offering students is going to provide unprecedented opportunities for years to come. It's truly a game-changer," said Raquel Tamez, CEO of SHPE. "These are the kinds of bold initiatives we need to encourage the next generation of Hispanic engineers to not just succeed, but lead."

Black Engineer of the Year (BEYA)

"The Black Engineer of the Year conference has partnered with Lockheed Martin for over 30 years to help advance our mission of promoting opportunities in science, technology, engineering, and math to historically underrepresented groups in STEM fields," said Tyrone Tayborn, CEO of Career Communications Group, who oversees BEYA. "What Lockheed Martin is offering students will change the game and provide opportunities to underserved students like never before." 

Project Lead The Way (PLTW)

"For the last decade, Project Lead The Way has been grateful for the opportunity to work with Lockheed Martin to prepare students for careers in STEM – from school grants and Engineers in the Classroom, to the Lockheed Martin High School Internship program," said Dr. Vince Bertram, President and CEO of PLTW. "This new STEM Scholarship program will make a tremendous impact on the lives of thousands of students who are interested in and passionate about continuing their STEM education."

SOURCE Lockheed Martin