Stanford University, the Stanford Hospital & Clinics, and StartX has announced a three-year partnership in the form of a $1.2 million yearly grant to support entrepreneurial education and Stanford entrepreneurs. In a note to Pulse 2.0, StartX reported that this $3.6 million grant is called the Stanford-StartX Fund.
Stanford University plans on using the grant money to help StartX scale and support its program in Silicon Valley, which includes StartX Med. StartX will be using the funding for staff development and to continue building their community-based learning system.
StartX has been tested through 10 accelerator sessions and supports over 330 StartX entrepreneurs. StartX has raised $1.65 million over the two past years.
“StartX has evolved from a Stanford student-run initiative into a robust, proven learning system for hundreds of startup founders from throughout the university. We train and house these creative minds, and it is only fitting that we invest in their future success,” stated Stanford President John Hennessy. “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.”