StartX Demo Day Fall 2014 – Achieving Growth & Maturity

When you work hard to build something that matters, you often wonder what is the impact. Since 2009, when we began as a campus organization and then later formed our own independent nonprofit, hundreds of people have put in tremendous efforts with the hope of helping good entrepreneurs become great and getting young companies off the ground.

Today, as our 13th session wraps up with Demo Day, we can share a snapshot of our progress. We think it serves as a look back and as a glimpse into the future. Our first session kicked off in 2010. Since then, StartX companies have employed more than 2,000 people, creating over $78 million in revenue. These are the one, two, and 75 person companies that start in dorms, garages, labs, and our very own StartX HQ.

Our community trains and inspires founders, some working on their first companies and others as serial entrepreneurs, to raise capital. To date, our 228 portfolio startups have raised $707 million in funding across angel, seed, and later stage investments. Here’s a look at our portfolio by industry:

  • Consumer Internet and Software: 88 (38.5%)
  • Enterprise Internet and Software: 57 (25%)
  • Hardware: 35 (15.5%)
  • Medical: 48 (21%)

88.5% of our companies are still going strong, although that number is weighted by the fact that our last two sessions have been our largest so far. For our Fall 2014 cohort, we supported 38 companies. Over the summer that same year, we worked with 32. In the first five weeks of 2015, two of our companies were acquired. We’ve had 22 acquisitions since 2010. Last week, Pixelapse, which was part of our Summer 2012 session, announced they have joined Dropbox. The other acquisition deal has not yet been announced.

Just 15 months ago, along with our partners Stanford University and Stanford Health Care, we launched the Stanford-StartX Fund. An unprecedented funding vehicle for early stage companies, it has quietly invested $31.4 million over 106 investments in a broad range of industries.

Screenshot 2015-02-Stanford StartX Fund_jan2015 About 30% of those investments went into biotechnology and medical/health companies in StartX Med, the life science and medical division of StartX that launched in May 2012. Of those 49 StartX Med companies, 100% are still operating. Breakthrough, a telemedicine startup, was acquired in Fall of last year. StartMed companies overall have raised more than $172 million in funding with biotech as the largest sector in those raises.

The fund, which is “opt-in” for StartX founders, and our program, has proven beneficial to startups of all stages. Rocketship startup, Life360, which is a connected hub for families, joined us for the Fall 2014 session. It is our largest company with 75 employees and more than 50 million families using their technology. With Life360, the Stanford-StartX Fund made its first series C round investment and we are excited to have them in our community.

Life360 and 21 other companies reached another milestone today. They finished the session and showcased their work at Demo Day. Below is a list of presenting companies:

(22 companies on stage, 2 companies with news embargoes asked for no press or public info disclosure):

AmigoCloud  –  Mobile and Cloud GIS, enabling organizations to collect, edit, manage and share geo-data, online & offline, on web & mobile, and in real-time.

UNNAMED – Bitcoin startup

Cleft – Two-factor authentication from the future.

DropThought – Instant Feedback and Text Analytics platform is disrupting traditional survey space

Farm Hill –  crafting the future of healthy eating by preparing and delivering truly healthy, truly delicious meals.

Haystack TV – empowers you to watch the news you care about with a personalized headline news channel.

HeartThis – building the most convenient way to shop online by putting all your favorite stores in one place.

Life360 – trusted hub for today’s connected families

Lightup – inspiring the next generation of innovators by making connected toys that adapt to kids as they play and learn.

Maestro – The future of content, delivered through the world’s most advanced multi-channel network

PayJoy – Consumer finance technology for emerging markets.

Polarr – automated photo curation and editing

UNNAMED is developing a new pressure-sensitive touch technology

Snitch – building Dropcam with professional monitoring, powered by the machine perception techniques behind the Stanford self-driving car.

Summer Technologies – a sustainable agriculture startup transforming the $220bn beef and dairy industries with precision grazing management software.

Switchmate – making home automation simple.

ToneDen – a social platform for music that connects artists and the industry directly to their audiences.

Vouch – The first social network for credit

Vynca -is an enterprise healthcare network that is solving the crisis of end of life care by ensuring people get the care they want at the end of life.

PredictionIO – an open source machine learning server for software developers to create predictive features, such as personalization, recommendation and content discovery.

Samsung & StartX Partner to Accelerate Innovation

Samsung-Logo-Wordmark-RGBStartX has witnessed, along with the rest of Silicon Valley, a renaissance in hardware startups, particularly connected devices.  Therefore, we intentionally sought out premiere, global hardware companies with a presence in the Valley looking for such technologies.  Samsung, with its Global Innovation Center (GIC) and Digital Media & Communications (DMC) R&D Center, fit that mold perfectly.

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The Global Innovation Center is a gateway for startups around the world and the larger Samsung organization. The GIC is focused on creating breakout software and service products that power the best consumer experience on Samsung devices and appliances.

Digital Media & Communications R&D Center of Samsung (DMC R&D Center) is a research hub concentrating on core and advanced technologies in consumer electronics and home appliances. DMC R&D engages with early-stage startups through joint development and IP acquisition to accelerate innovation. Key interest areas include but are not limited to connected sensors, power solutions, wearables, consumer robotics, optics, health monitoring, and machine learning.

Given Samsung’s broad product and technology portfolio, including medical devices, a partnership with the accelerator is of great mutual benefit to both Samsung and StartX.  Samsung is interested in StartX to offer strategic support and get early exposure to the best technology and talent coming out of the Stanford student, alumni and faculty communities.

StartX and StartX Med support more than 220 fast growing startups and 560 entrepreneurs working on challenges in biotech, consumer internet, enterprise, mobile, gaming, hardware, and healthcare IT.

Samsung joins us with Signature Partner status (our highest tier of partnerships) for the Spring and Summer 2015 sessions of StartX. We are thankful for their financial assistance with our community-driven program.

StartX Founders Highlighted on Forbes 30 Under 30 List 2015

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When Forbes publishes its annual 30 Under 30 list, the StartX community starts buzzing. Today, with 12 of our founders selected as finalists, we have a lot to talk about!  It is truly a distinguished class, spanning 20 categories including Healthcare, Energy, Music, Media, Venture Capital, Law, and etc.  We congratulate you all!

A team of judges in each category had the difficult task of narrowing down about 600 young professionals whose achievements, impact, and potential are noteworthy.  Forbes says, the whole process stretched from October to December last year. At StartX, we see many extraordinary founders in our application process which takes place 2-3x yearly, so we can imagine how tough it might be to start from a huge pool of outstanding individuals and narrow that down to find people that are really standouts.

Nevertheless, we’re thrilled and appreciative that Forbes made the effort to highlight their incredible stories. This year, we’re especially excited that StartX Founder Cameron Teitelman was named in the Venture Capital category. Teitelman began working on our nonprofit in his junior year at Stanford in 2009.  With a strong, steady vision and passionate leadership, he’s made a huge impact on accelerating the pace of innovation and the professional development of more than 450 entrepreneurs. In 2013, he launched the Stanford StartX Fund, which has invested $25 million in StartX startups to date.  The portfolio at large includes close to 200 startups that have raised $450 million in funding.

Below is a list of our founders, their companies, and list category, as featured by Forbes:

Jason Bellet, Eko Devices – Healthcare

Alice Brooks, Roominate – Manufacturing & Industry

Laura Borel, Nutrivise (Jawbone) – Food & Drink

Tyler Crouch, Eko Devices – Healthcare

Alexander Haro, Life360 – Consumer Tech

Dmitri Gaskin, Branch Metrics – Enterprise Tech

Pieter Gunst, LawGives – Law & Policy

Connor Landgraf, Eko Devices – Healthcare

Greg Mulholland, Citrine Informatics – Energy

Awad Sayeed, Pixlee, Marketing & Advertising

Cameron Teitelman, StartX – Venture Capital

Kyle Wong, Pixlee – Marketing & Advertising

Forbes says it envisions the 30 Under 30 distinction as a “positive and idea-exchanging club whose alumni can connect to share ideas,” with each other and others in the Forbes network. It even has an app just for alumni to help boost networking and swap ideas.  Last year, more than 1000 alumni gathered for the 30 Under 30 Conference in Philadelphia.  The conference for the 2015 contingent is scheduled for the Fall.

New Founders at New StartX, Summer 2014 Takes Off!

New Founder Welcome BBQ

New Founder Welcome BBQ

StartX is excited to offer a glimpse into the Future via our newest cohort of entrepreneurs that comprise the Summer 2014 session.  Are you ready for personalized genomic medicine? The modern ahola shirt? Sprayable energy? Breakthrough anticoagulation therapy?

Founders working on those challenges and many others have settled into our new, 13,000 square foot compound for entrepreneurs. They’re the first StartX class to call this place “home” for the next 3-6 months. They’re also the largest session we’ve admitted since our nonprofit program launched in 2010.

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StartX HQ Redesign Staff

This summer, day-to-day, we are supporting 73 founders who are working on 32 high growth startups. It’s the kind of place where everyone is pursuing their passion business and everyone feels — unstoppable. With new fundings weekly, that energy is being rewarded with investment.

Here’s a snapshot look at our companies taken in the first few weeks of the program:

  • $36 million raised in cumulative funding
  • 8 startups funded by Stanford-StartX Fund
  • $15.5 million: largest round raised by single company

While the appetite for investment is apparently quite healthy, in many cases, it has followed some very promising growth.

  • 60% of companies generating revenue
  • $4 million in revenue generated, cumulative
  • $285,000: average revenue per revenue generating company
  • $2 million: highest revenue generated by single company

For some startups, these revenue streams come from several years of research and market testing.  Whether they’ve had some time to mature or are just getting started, across the portfolio, our companies are working on a broad array of solutions. They’re producing medical devices, helping people find love and romance, streamlining the trucking industry, eliminating night terrors for children, providing open source machine learning solutions, and etc.

The founders, individually, are also quite different from each other. Some of our startups include teenagers. We also have companies led by seasoned entrepreneurs in their 40’s and 70’s. Beyond age, there are a number of other distinguishing factors:

  • 2 Stanford professors
  • 1 U.C. Berkeley professor
  • 3 Former venture capitalists
  • 5 Entrepreneurs with previous company acquisitions
  • 14% Founders are women
  • 52% Stanford alums or faculty
  • 3 Current student founders
  • 14% Class of 2014 graduates
  • Ages 18-70

Want to learn more about the StartX summer session? Follow this blog and/or follow us on social media. We’ve got some great stories. You’ll be inspired and informed!

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