The Kauffman Foundation announced yesterday that it will give an $800,000 grant to StartX, the Stanford University student start-up accelerator.
The Missouri-based nonprofit foundation, which routinely funds fledgling educational and entrepreneurial programs, funneled the hefty donation to StartX’s for curriculum expansion and replication across the country. Currently, StartX only resides on Stanford University’s campus.
“We’re building a scalable, education-focused organization to serve as a trusted resource for the world’s best entrepreneurs,” Cameron Teitelman, founder and senior managing director of StartX, said in a press release. “The Kauffman Foundation’s support will help us take a big step toward our goal of building a truly disruptive platform for entrepreneurial education.”
StartX, launched in 2010 by a group of Stanford University students, is a hybrid between education center and business accelerator their alma matter.
Students who enter the program are thrust into an intensive, hands-on environment where they can craft their start-ups under the guidance of a full staff.
Of the 90 start-ups that launched in StartX, 85% have received funding from Silicon Valley investors. On of their largest success stories, Maykah, a toys for girls start-up, soared past their KickStarter goal by almost $61,000.
And with more than 6% of Stanford’s student population applying for a spot in the incubator (and an extra $800,000 in its pocket), StartX shows no signs of slowing down.