StartX

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StartX
StartX logo.png
Formation 2011
Legal status Non-profit
Purpose/focus Business incubator
Parent organization Stanford University
Website startx.stanford.edu

StartX is a non-profit business incubator associated with Stanford University.

It was founded by Cameron Teitelman and Dan Ha in 2011.[1][2][3] it began as a spin-off of Stanford Student Enterprises, the non-profit financial arm of the Associated Students of Stanford University, which sponsored earlier events called SSE Labs in 2009 and then SSE Ventures.[4][5] The StartX incubator differentiates itself from other incubators in Silicon Valley, such as Y Combinator, in that it is an educational non-profit 501(c)(3) organization that takes no equity in the companies it helps start.[6]

At least one member of each company must have some Stanford connection, but undergraduates, graduates, faculty and staff are involved in the seminars and advise program.[7] One of its first ventures, Alphonso Labs, developed the Pulse App.[6] WifiSlam was acquired by Apple Inc for about $20 million.[8][9]

StartX's staff was primarily composed of student volunteers from Stanford. StartX received a $800,000 grant from the Kauffman Foundation in August 2012 (which allowed Teitelman to earn a salary),[10][11] and $400,000 from Silicon Valley companies in February 2012.[12]

In May 2012, StartX created a specialized track, called StartX Med, for medical-related startup companies.[13]

In September 2013, Stanford announced received a grant of $1.2 million for each of three years to StartX. Along with Stanford Hospital and Clinics, it created a new Stanford-StartX fund (of uncapped amount) to invest in current and alumni StartX companies.[14][8] To receive the investment from Stanford, StartX companies must raise at least $500,000 on their own from professional angel investors or venture capitalists.[15] Stanford-StartX approved 6 companies by 2013.[16]

References[edit]

  1. ^ "Stanford 'Accelerator' Nurtures Start-Ups". Wall Street Journal online. October 13, 2011. 
  2. ^ Max McClure (September 1, 2011). "Stanford students, alumni help each other with their startup dreams". Stanford Report. Retrieved September 11, 2013. 
  3. ^ Tomio Geron (June 2, 2011). "StartX Launches The Best Of Stanford Startups". Forbes. Retrieved September 11, 2013. 
  4. ^ "About Stanford Student Enterprises". Website. Retrieved September 11, 2013. 
  5. ^ "SSE Ventures is Now SSE Labs". Website. Stanford Student Enterprises. Retrieved September 11, 2013. 
  6. ^ a b "Stanford Students Build Their Own Y Combinator". Tech Crunch. June 10, 2010. Retrieved September 11, 2013. 
  7. ^ Tomio Geron (June 1, 2012). "NA To Dollhouses: Stanford's StartX Accelerator Launches New Batch Of Startup". Forbes. Retrieved September 11, 2013. 
  8. ^ a b Liz Gannes (September 4, 2013). "Stanford Grants $3.6M to StartX Accelerator". All Things D. Retrieved September 11, 2013. 
  9. ^ Jessica E. Lessin (March 23, 2013). "Apple Acquires Indoor Location Company WifiSLAM". Wall Street Journal blog. Retrieved September 11, 2013. 
  10. ^ Anthony Ha (August 23, 2012). "StartX, The Accelerator For Stanford Students, Wins $800K Grant From The Kauffman Foundation". Tech Crunch. Retrieved September 11, 2013. 
  11. ^ Peter Delevett (August 23, 2012). "Stanford startup incubator StartX lands $800,000 grant from Kauffman Foundation". San Jose Mercury News. Retrieved September 11, 2013. 
  12. ^ Ryan Lawler (February 7, 2012). "Stanford Student Startup Accelerator StartX Raises Another $400,000, Bringing Total Funding To About $1.5 Million". Tech Crunch. Retrieved September 11, 2013. 
  13. ^ Richard Nieva (May 31, 2013). "How Stanford-affiliated StartX began to embrace medical startups". Pando Daily. Retrieved September 12, 2013. 
  14. ^ "StartX, Stanford University and Stanford Hospital & Clinics announce $3.6M grant and venture fund". Stanford Report. September 5, 2013. Retrieved September 12, 2013. 
  15. ^ Billy Gallagher (September 4, 2013). "Stanford University Is Going To Invest In Student Startups Like A VC Firm". Tech Crunch. Retrieved September 11, 2013. 
  16. ^ James Mawson (September 9, 2013). "Stanford Sails to StartX". Global University Venturing. Retrieved September 11, 2013.