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StartX (Stanford-StartX Fund)

StartX (Stanford-StartX Fund)

StartX is a nonprofit organization with a mission is to accelerate the development of Stanford's top entrepreneurs through experiential education.

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Overview

StartX is a nonprofit community of serial entrepreneurs, industry experts, tenured Stanford professors, and well-funded growth-stage startups. It also provides founders with educational programming, a three-tier mentoring system, office space, access to a talented network of industry partners, and other resources. StartX itself is an independent nonprofit from Stanford University, to ensure that there is a clear separation of intellectual property between any research at Stanford and the work teams are doing to bring impact to real patients and industry. StartX is industry and stage agnostic and looking to fund and support founders in solving problems in any industry, including biotechnology, medical device, hardware, clean technology, and consumer and enterprise IT.

Community network

StartX believes that entrepreneurs can achieve more as a community than they can as individuals. It helps companies to hire elite talent and secure funding and works to help companies find creative ways to collaborate and create longer term impacts on the world.

StartX also offers a talent network that allows participating companies to tap into the Stanford University Alumni Network, which collects resumes from every career fair on Stanford Campus and makes them available for to StartX companies through its online jobs portal and a concierge service that matches student talents to company needs. Further, StartX also tracks a list of vetted entrepreneurs who have since exited a previous company and are looking for a new company.

Partners

Partners of StartX's program include financing partners, commercial partners, technology sponsors, legal sponsors, and resource sponsors. These include organizations such as Daikin, Stanford University, AstraZeneca, AWS, Sumitomo Mitsui Financial Group, Fenwick & West LLP, F-Prime Capital Partners, Eight Roads, Total, Mercury, Figure, Sequoia Capital, Goodwin Proctor, Orrick, SerotteLaw, Capshare, ContractSafe, DocSend, Eden, GoDaddy, Google Cloud, Gusto, Heroku, Hubspot, and Intercom.

Nonprofit accelerator program

The StartX program was developed through $8 million in grant funding from the Stanford University and Stanford Health Care to offer support to the Stanford entrepreneurship ecosystem. Stanford University, Stanford Health Care, and the Kaufmann Foundation have deployed a combined $200M to ensure the StartX community and StartX organization could be self-sufficient in perpetuity. Further financial support has come through grants, donations, and corporate sponsorships, which have been necessary as StartX does not take equity in accelerator companies as a nonprofit organization.

The goal of making the StarX program self-sufficient was realized in 2019, when it was announced that Stanford would cease funding the StartX program as it had reached self-sustainability financially. Previously, as part of the program, the Stanford-StartX Fund would invest in Stanford-affiliated startups through StartX, but this fund announced it would stop making investments. Besides StartX's self sufficiency, the other reason they decided to stop investing was due to the companies participating in StarX's program ability to raise, on average, $9.3 million through completion of the program, which, in 2019 was up from the $1.1 million raised on average (which had been the previous decade's norm).

StartX Med

StartX Med is a medical vertical of StartX that focuses solely on the development of Staford's medical entrepreneurs. This portion of StartX focuses on meeting the unique challenges of medical startups and companies. Which includes additional resources such as wet and dry lab space, animal testing facilities, clean rooms, and specialized instruction on medical technology, intellectual property, and the FDA approval process for medical companies and medical technology. This is to provide facilities for research in biology, chemistry, and medicine.

StartX Med Labs, which provides the necessary on-site facilities for research activities, is a community-operated portion of StartX and is structured as a nonprofit cooperative. This is a portion of the StartX Med cooperative that works to serve companies in the medical focused vertical of the accelerator program.

StartX Med has seen more than 135 companies in the program, which have raised over $920 million in funding across all medical fields. Further, many of these companies are used by or include among their customers the top global pharmaceutical companies.

Student-in-Residence (SIR)

StartX's Student-in-Residence (SIR) is a scholarship and financial aid program to support students building a company while completing their degree. This program is only open to actively enrolled Stanford students and PhDs in good academic standing, and these students are required to have a significant equity stake in the company.

Those awarded the SIR scholarship are also offered access to StartX's networks of mentors, previous StartX entrepreneurs, Stanford faculty and alumni, and also receives customized coaching as needed from coaches and domain experts. Furthermore, as StartX is a nonprofit organization, they take no equity in student companies, nor do they require the awardees of the SIR to pay any fees.

Each eligible team is awarded $4500 upon acceptance and a further $4500 upon graduating from Stanford and passing acceptance interviews from the StartX Community. As well, all companies receive $1.2 million in free resources, such as drop-in office space or legal advice.

Timeline

September 24, 2019
StartX celebrates ten years helping Stanford's top tech and medical entrepreneurs solve real-world problems.
January 22, 2019
With StartX now financially "self-sustaining," University discontinues funding for its startups
March 8, 2017
StartX, the accelerator for Stanford-affiliated entrepreneurs, gets a new CEO.
September 4, 2013
StartX raises a $3,600,000 grant from Stanford University.
February 7, 2013
StartX raises a $400,000 venture round from AT&T.

Invested in

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Funding Rounds

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Products

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Acquisitions

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SBIR/STTR Awards

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Associated Investment Funds

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Accelerator Batches

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Patents

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Funding Rounds Participated In

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Further Resources

Title
Author
Link
Type
Date

StartX Celebrates 10 Years Helping Stanford's Top Tech and Medical Entrepreneurs Solve Real-World Problems

https://www.businesswire.com/news/home/20190924005395/en/StartX-Celebrates-10-Years-Helping-Stanford%E2%80%99s-Top-Tech-and-Medical-Entrepreneurs-Solve-Real-World-Problems

Web

September 24, 2019

StartX, the accelerator for Stanford-affiliated entrepreneurs, gets a new CEO

Ryan Lawler

https://techcrunch.com/2017/03/08/startx-new-ceo/

Web

March 8, 2017

What makes Stanford StartX the best accelerator in the world | Mind the Chat

https://mindthebridge.com/stanford-startx-mindthechat/

Web

March 20, 2020

With StartX now financially 'self-sustaining,' University discontinues funding for its startups

Hannah Knowles

https://www.stanforddaily.com/2019/01/22/with-startx-now-financially-self-sustaining-university-discontinues-funding-for-its-startups/

Web

January 22, 2019

References

startx.co
startx.stanford.edu
startx.com
Is a
Organization
Organization
Venture capital firm
Venture capital firm
Company
Company
Investor
Investor

Company attributes

Industry
Software
Software
Enterprise software
Enterprise software
Energy industry
Energy industry
Hardware
Hardware
Technology
Technology
Biology
Biology
...
Location
Palo Alto, California
Palo Alto, California
B2X
B2B
B2B
CEO
Joseph Huang
Joseph Huang
Founder
Cameron Teitelman
Cameron Teitelman
‌
Christopher Morace
‌
Anuj Khandelwal
‌
Dan Ha
Juan Vera
Juan Vera
‌
Katie Fo
Pitchbook URL
pitchbook.com/profiles.../54252-01
Spun Out From
Stanford University
Stanford University
Full Address
2627 Hanover St, Palo Alto, California US
Investors
Stanford University
Stanford University
AT&T
AT&T
Kauffman Foundation
Kauffman Foundation
Founded Date
January 1, 2011
Email Address
info@startx.stanford.edu
media@startx.com
Total Funding Amount (USD)
4,000,000
Latest Funding Round Date
September 4, 2013
Key People
Cameron Teitelman
Cameron Teitelman
Joseph Huang
Joseph Huang
Amélie Marichal
Amélie Marichal
Bella Fojut
Bella Fojut
Amanda Dawson
Amanda Dawson
Amanda Brief
Amanda Brief
Darsh Mann
Darsh Mann
Ana Japaridze
Ana Japaridze
...
Latest Funding Type
‌
Venture round
Wellfound ID
startx

Venture Capital Firm attributes

Blog
startx.com/med

Other attributes

Strategic Partnerships
Modulus Discovery Inc
Modulus Discovery Inc
OMG Foundation
OMG Foundation
Country
United States
United States
Wikidata ID
Q16981419
Company Operating Status
Active
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