If your grad is passionate about cooking, the Anova Precision Cooker will give them an easy, affordable entry point to the world of sous vide. It's also more affordable than full bath sous vide machines, and it won't take up as much counter or cabinet space.
Icontrol's Piper NV is an all-in-one security device that doubles as a smart-home hub. It houses a night-vision-capable security camera, a host of sensors (temperature, noise, humidity, light...), a speaker, a microphone and a siren. It will also let your grad store saved video clips in the cloud for free.
This smart LED light bulb is an Editors' Choice winner for its excellent lighting characteristics and its compatibility with a range of popular smart home control hubs. At $15 a pop, it's also one of the most affordable smart LED bulbs out there.