Stanford University, a Silicon Valley based, leading research and teaching institution has recently announced that it will be investing directly in students’ companies with fund having an uncapped size, reports TechCrunch. The lead role in funding rounds will be taken by Vice President for Business Affairs Randy Livingston and his office.
Stanford, known for its entrepreneurial character, currently offers a wide range of undergraduate, graduate and postgraduate courses. The area of excellence ranges from the humanities to social sciences to engineering and the sciences.
Although, its for the first time that the university will be having a dedicated fund to invest in Stanford startups, there are already programmes running at the campus like The Accel Innovation Scholars program and Stanford Technology Ventures Program, to explore entrepreneurship and gain the knowledge, skills and mindset to bring breakthrough ideas to the world.
As per the news, Stanford will also grant 43.6 Mn to StartX, a non-profit organization accelerating Stanford’s top entrepreneurs through experiential education.
The current step taken by Stanford University will definitely create a much wider scope and bigger opportunities for the Stanford students. This will also made a way for the universities across the world to start such programmes for their students. Especially, the initiative can be much useful for the students in developing countries wherein getting an idea approved and raising funds is still a daunting task.
Talking about India, at present, it is considered as a growing destination for some of the Asia’s leading IIT and IIM institutions, imparting knowledge and skills based on some of the world’s finest universities such as Oxford and Harvard. The institutes are having their entrepreneurship cells and also they are taking initiatives for incubator program with recent names including IIM Calcutta. But, as such there is no direct funding program by any of the Indian universities, which definitely is the need of the hour.
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