StartX, the nonprofit startup accelerator based out of Stanford University, announced in a press release today that it has received $3.6 million in funding from the university and Stanford Hospital & Clinics.
The money will take the form of a $1.2 million yearly grant. StartX is student-founded and has gone through 10 accelerator sessions since 2009, supporting over 330 entrepreneurs.
This latest partnership will only fuel the flames of Stanford critics, who claim the University is emphasizing tech-commerce at the expense of broader education. New Yorker writer Nicholas Thompson — a Stanford alum himself — called the school “a tech incubator with a football team.”
Perhaps the most famous — or infamous — of StartX companies is Clinkle, which raised a $25 million seed round earlier this summer, and incited more than 20 students to drop out of school. Several professors have already invested, and Stanford President John Hennessy previously served as an academic advisor to Clinkle’s CEO, Lucas Daplan.
It’s a great day to be a Stanford alum in tech, bad day to be a Stanford alum at The New Yorker.