StartX's staff is primarily composed of student volunteers from Stanford.StartX received a $800,000 grant from the Kauffman Foundation in August 2012 (which allowed Teitelman to earn a salary), and $400,000 from Silicon Valley companies in February 2012. One of its first ventures, Alphonso Labs, developed the Pulse App.WifiSlam was acquired by Apple Inc for about $20 million. At least one member of each company must have some Stanford connection, but undergraduates, graduates, faculty and staff are involved in the seminars and advise program. The StartX accelerator differentiates itself from other accelerators in Silicon Valley, such as Y Combinator, in that it is an educational non-profit 501(c)(3) organization that takes no equity in the companies it helps start.
It began as a spin-off of Stanford Student Enterprises, the non-profit financial arm of the Associated Students of Stanford University, which sponsored earlier events called SSE Labs in 2009 and then SSE Ventures. It was founded by Cameron Teitelman and Dan Ha in 2011. StartX is a non-profit startup accelerator and founder community associated with Stanford University.We are excited to work with Ruey to realise his vision of the av-Guardian in addressing that exact need. Advent Access joins our group at a time when global healthcare payors are calling for a transformation in the treatment of kidney disease by moving care into the home setting to lower costs. We believe that entrepreneurs can achieve far more as a group than they can as individuals and we have seen strong evidence of this in the high number of companies within StartX reaching a valuation of more than US$100m. Joseph Huang, Chief Executive Officer of StartX, added: ”We are delighted to welcome Ruey Feng Peh and Advent Access to the StartX community. We look forward to collaborating closely with the StartX community members and the access to Stanford’s wide network of corporate partners and investors.” Our selection to join the StartX program is further validation of the work of our team in pioneering a potential solution to one of the biggest needs in hemodialysis today – easy and reliable access to the AV fistula that ultimately improves patient outcomes, comfort, and unlock novel care environments. Peh Ruey Feng, Founder and Chief Executive Officer of Advent Access, said: “This is an exciting time for Advent Access as we approach important milestones for the company in 2019. Advent expects to complete the study later in 2019. Advent Access is currently conducting a second clinical study to evaluate the potential for av-Guardian to assist in self-cannulation and, ultimately, to enable more patients to benefit from home or self-hemodialysis. The av-Guardian is the world’s first medical implant to pioneer the concept of having a “guardian guide-door” for dialysis needles to optimally enter a specially created dialysis vein, an arteriovenous fistula (AV fistula), without the implant being in contact with the vein.
Historically only eight per cent of applicants are accepted from a pool of around 300 applicant companies per batch.Īdvent Access will leverage the powerful networks, resources and funding available through StartX as it continues the late-stage development of its av-Guardian technology. Companies undergo a rigorous selection process and the program is highly competitive. Among the medical companies in the community, US$1.8 billion has been raised by approximately 160 companies and 24 Food and Drug Administration approvals have been obtained. To date, over 650 StartX companies have raised US$6.7 billion in funding.
STARTX STANFORD SERIAL
StartX is a community of serial entrepreneurs, industry experts, tenured Stanford professors, and well-funded growth-stage startups. Advent Access and its founder are accepted into the program in recognition of their strong potential to achieve a medical breakthrough in the development of its award-winning av-Guardian technology for hemodialysis. StartX is an educational non-profit organization with the mission to accelerate the development of top entrepreneurs in the Stanford University network. Advent Access (Advent), one of Singapore’s most innovative medtech companies, has announced that it has been selected by StartX to be part of its 2019 Spring cohort.
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