Stanford to invest in student startups
- Stanford University announced Wednesday that it will begin investing in student startups, giving a $3.6 million grant to non-profit startup accelerator StartX.
- StartX is exclusive to Stanford-affiliated entrepreneurs, and founder and CEO Cameron Teitelman says the university will invest only in companies that are part of the accelerator or owned by alumni.
- The Stanford-StartX Fund will also include participation from Stanford Hospital and Clinics, and according to Stanford spokesperson Lisa Lapin, the investment fund will be uncapped and overseen by VP for Business Affairs Randy Livingston and his office.
From the article:
... Teitelman says the program is opt-in for StartX portfolio companies, and that the fund will only invest in companies that have raised over $500,000 with a minimum percentage of the capital coming from VCs and/or professional angel investors. For initial investments, that percentage threshold is 30%. The fund will then keep investing in future rounds where it is permitted. The fund has no cap in terms of total dollar amount it can spend or total companies it can invest in. ...
- TechCrunch Read More
Follow Roger Riddell on Twitter