Stanford, Stanford Hospitals and Clinics and StartX form grant and venture fund
In an announcement, StartX would be partnering with Stanford University and Stanford Hospital and Clinics for three years with a yearly grant fund of USD1.2 million. StartX is a student formed non profit organization that provides start up acceleration services for Stanford recognized affiliate entrepreneurs.
The fund would be called the Stanford-StartX Fund and it would support entrepreneurial education, advancement of emerging technologies as well as other support services for Stanford entrepreneurs. The grant would come from Stanford University and Stanford Hospitals and Clinics to assist StartX expand its support services in the SIlicon Valley. Amongst the programs under its wing is StartX Med, which is a division of the program focused on medical and biotechnology entreprenuers.
According to Stanford President John Hennessy, "StartX has evolved from a Stanford student run initiative into a robust, proven learning system for hundreds of start up founders throughout the university. We train and house these creative minds and it is only fitting that we invest in their future success. 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."