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.
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!