Cognizant Joins 'Change the Equation' to Build America's Innovation Future

President Obama Launches Change the Equation at White House Event

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Sep 16, 2010, 06:00 ET

TEANECK, N.J., Sept. 16 /PRNewswire/ -- Cognizant (Nasdaq: CTSH), a leading provider of consulting and technology services, announced today it has joined Change the Equation (CTEq), a CEO-led initiative to cultivate widespread literacy in science, technology, engineering and math (STEM). CTEq will not only achieve the President's Educate to Innovate campaign mission to increase private and philanthropic involvement in STEM education, but also will meet a critical need for a workforce and a citizenry fluent in science and math.

Change the Equation is bringing together top companies like Cognizant across multiple sectors, all of which are dedicated to preparing students for STEM-related careers as an investment in their business, the economy and our democracy. Through innovative and effective company-led programs, Cognizant and CTEq aim to fill the opportunity gap with capable and enthusiastic STEM-literate young people. It is the first and only STEM education group that brings so many corporate leaders together in collaboration with the White House, State Houses nationwide, and the foundation community.

Corporate Member Cognizant joins founding members from Time Warner Cable, Sally Ride Science, Kodak, Intel and Xerox.

"Investing in and collaborating on STEM education has been a priority for our company," said Francisco D'Souza, President and CEO of Cognizant. "STEM literacy is a business imperative for the economic well being of the United States. Our collaboration will not only help students prepare themselves for the workplace of the future, but will also revive our economy, fuel our competitiveness, and ultimately empower our nation in a globalized economy."

According to a report by the Center on Education and the Workforce, there will be 8 million jobs available in STEM-related fields by 2018. However, the report also finds that the next generation of employees in America will be unprepared to take advantage of these positions.

America's challenges with math—which is the entry point into science, technology and engineering—are not solely rooted in academic skill. It may be indicative of a deeper cultural norm. According to a recent survey commissioned by CTEq, nearly three in ten adults believe they are not good at math. The problem is especially acute in younger Americans. More than half of Americans aged 18 to 36 admit that they often find themselves saying they can't do math. Americans' attitudes toward math were so negative that thirty percent would prefer cleaning the bathroom to doing a math problem.

"'I can't do math' has become an iconic excuse in our society," said Linda Rosen, Chief Executive Officer of CTEq. "Many Americans have expressed it, but I don't believe it's an accurate reflection of who we are, or, more importantly, what we can do."

Rosen continued, "If we don't encourage our children and students to get excited about math as well as science, technology and engineering, we are denying them the chance to reach their potential, and be prepared for a future filled with opportunity."

Rosen announced that CTEq will establish a set of criteria that guides the organization and its member companies in defining program success. "It has been said that conscience is a person's compass," Rosen said. "CTEq can and will fire the nation's conscience on STEM education. We will monitor our own progress and the progress of others, identifying what is working and what isn't. CTEq will apply the lessons we learn so that the nation continues to move towards a future where every American is literate in science, technology, engineering and mathematics."

CTEq has an ambitious agenda for its first year, including creating a snapshot of existing STEM investments by its 100 member companies to establish a baseline of STEM programs. In response, Cognizant is extending its U.S. education outreach program and is planning to invest in existing and emerging programs that combine STEM excellence with proven and innovative leadership and collaboration techniques. "Our primary goal is to educate the knowledge worker of the future and provide the skills they need to succeed in the global knowledge economy," Francisco D'Souza explained.

CTEq also will create a self-evaluation mechanism for member companies to measure the effectiveness of their STEM programs. It will also launch an ambitious plan to initiate a core set of very effective programs in 100 new sites across the country to broaden the philanthropic reach of CTEq members and to create a state-by-state scorecard that can assess the condition of STEM education in all 50 states.

CTEq evolved as a result of the first Educate to Innovate Event in November 2009, when President Obama named five leading business and thought leaders (Sally Ride, Craig Barrett, Ursula Burns, Glen Britt, and Antonio Perez) to head an effort to improve American student participation and performance in science, technology, engineering, and mathematics. The Carnegie Corporation of New York and the Gates Foundation generously provided challenge grants to launch the organization.

CTEq's goals are to:

Improve STEM teaching at all grade levels, with a larger and more racially, ethnically and gender-diverse pool of highly-capable STEM teachers.
Deepen student appreciation and excitement for STEM programs and careers to increase enrollment and success, especially among females and students of color.
Achieve a sustained commitment to the STEM movement from business leaders, government officials, STEM teachers and other stakeholders through communication, collaboration and data-based decision making.

About Change the Equation

Change the Equation (CTEq) is a non-profit organization whose 100 member companies from across industry sectors are dedicated to promoting innovation and investment in STEM teaching and learning. CTEq aims to give STEM education a central place in the national lexicon of excellence and achievement, establishing a national movement to support, promote and implement excellent STEM education for every child.

About Cognizant

Based in Teaneck, N.J., Cognizant (Nasdaq: CTSH) is a leading provider of information technology and consulting services. Cognizant's single-minded passion is to dedicate our global technology and innovation know-how, our industry expertise and worldwide resources to working together with clients to make their businesses stronger. With over 50 global delivery centers and approximately 88,700 employees as of June 30, 2010, we combine a unique global delivery model infused with a distinct culture of customer satisfaction. A member of the NASDAQ-100 Index and S&P 500 Index, Cognizant is a Forbes Global 2000 company and a member of the Fortune 1000 and is ranked among the top information technology companies in BusinessWeek's Hot Growth and Top 50 Performers listings. Visit us online at www.cognizant.com.

Forward-Looking Statements

This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

SOURCE Cognizant