Widgets Magazine

Stanford boosts StartX funding, creates startup venture fund

Stanford University and Stanford Hospital and Clinics have pledged $3.6 million over three years in grant funding to support student-initiated startup accelerator StartX, in a move accompanied by the creation of a venture fund that will invest exclusively in StartX firms.

“Our grant program and investment in early stage companies is in keeping with Stanford’s mission of sharing knowledge and fostering innovation, and is another way we can play a role in accelerating the future development of Stanford students, alumni and scholars,” said President John Hennessy in a press release.

The grant program — which will significantly augment StartX’s fundraising total of $1.65 million over the past two years — will support StartX functions including staff and programming development . The Stanford-StartX fund has already approved commitments to six companies, including Knotch, which aims to connect like-minded people online through shared interests, and Cytobank, a big data analytics platform.

Since its founding in 2009, StartX has seen 10 startups acquired and 136 companies graduate from the program. On average, the program’s startups have raised more than $1.8 million from investors apiece.

About Ileana Najarro

Ileana Najarro is the Managing Editor of News at The Stanford Daily. She previously worked as a News Desk Editor and Staff Writer.
  • knand-gate

    Hey Knotch people, check out the double “and and” in your About statement. 78% of me thinks it’s gotta go.

    “At Knotch, we think your opinions and interests matter and that they are at the core of how you discover new friends. That’s why we have created the most simple, fun, and and colorful way to let you do precisely that. We are the network that lets you share your true colors.The Opinion Network.”