Stanford University is going to start directly investing in students’ companies. Stanford is also giving a $3.6 million grant to StartX, a non-profit startup accelerator for Stanford-affiliated entrepreneurs.
StartX founder and CEO Cameron Teitelman tells me Stanford will only invest in StartX companies and alumni companies.
University spokesperson Lisa Lapin tells me Stanford’s investment fund will have an uncapped size. Vice President for Business Affairs Randy Livingston and his office will oversee the school’s investments, and Stanford will not take a lead role in funding rounds.
Stanford Hospital and Clinics will be investing in companies alongside Stanford in the Stanford-StartX Fund; it is the first time the University or the Hospital will have a dedicated fund to invest in Stanford startups.
StartX, which was founded in the summer of 2009 as a student initiative, has three classes of companies per year, and takes no equity from the companies. The…
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