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US non-profit startup accelerator From Wikipedia, the free encyclopedia
StartX is a non-profit startup accelerator and founder community associated with Stanford University.
| |
| Formation | 2011 |
|---|---|
| Legal status | Non-profit |
| Purpose | Startup accelerator |
| Website | startx |
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 accelerator differentiates itself from other accelerators 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 is 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 a grant of $1.2 million every year for 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.[8][14] 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 six companies by 2013.[16]
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