StartX

StartX

Formation	2011
Legal status	Non-profit
Purpose	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 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