Austin, Texas, January 21, 2020 - Tim Draper, prominent venture capitalist and founder of Draper Venture Network, Draper Associates, Draper University and DFJ, has announced a new addition to his global brand, Draper Startup House.
Draper Startup House will join forces with Tribe Theory, an international entrepreneur-focused hostel chain founded by Vikram Bharati in Singapore. With the strategic investment of Tim Draper in Tribe Theory, the existing hostel will rebrand to Draper Startup House and form the International division of the business. Katie Russel and Daniel Wiegand have jointly founded the parent company Draper Startup House in the United States which will operate the US business activities and oversee its minority stake in the international partnership. These two operations will collaborate to expand hostel locations globally in its aspiration to support and enable one million entrepreneurs by 2030.
“Tim and his team immediately understood our vision and made an offer to invest in us and work with us to build out this concept globally under the brand Draper Startup House. This was the differentiator we were seeking,” explains Tribe Theory founder, Vikram Baharati. “This rebrand will put us on the course of building what we had set out to – hospitality as the foundation of an entrepreneurship ecosystem. It will propel our mission much further because we are now part of a larger ecosystem.”
Tribe Theory has eight existing international locations, including Bali, Singapore, Yangon, Estonia, Manila, Lisbon, as well as two locations in Bangalore that will be rebranded to Draper Startup House. The first United States location will open in March 2020 in Austin, TX at SXSW, with additional locations following the investment.
“Draper Startup House provides global live/work spaces for entrepreneurs where they can connect, be inspired, and build a community,” says Tim Draper. “Draper Startup House community members join a powerful global network of innovators and influencers. DSH provides resources and activities to help them succeed with their missions.”
In addition to the short and long term accommodations offered by Draper Startup House, entrepreneurs will receive unprecedented support. Each location will offer co-working space, custom programming focused on entrepreneurship, access to venture capital funding and the ability to submit pitch decks to the Draper Venture Network, which has 23 global funds. Through the use of real human connection, inspired business travel, a diverse-minded community and access to global citizens, entrepreneurs are able to connect to new opportunities, inspire one another to innovate and execute and empower one another to go big, give back and drive progress.
About Draper Startup House:
Draper Startup House is an expansion of Tim Draper’s global brand which includes Draper Venture Network, Draper Associates and Draper University. Operating in the United States and in partnership with Tribe Theory to support international efforts, Draper Startup House is disrupting the hospitality model by creating true value through building a larger business ecosystem. Their mission is to empower people across the globe who have unique and groundbreaking ideas, providing them with resources to dedicate themselves to their vision and accelerate their work.
About Tim Draper:
Since 1985, Tim Draper has been focused on supporting and accelerating entrepreneurial work through his Draper Ecosystem. He has been an early investor in more than 30 unicorns including Hotmail, Skype, Tesla, SpaceX, Baidu and Bitcoin. The Draper Ecosystem is built upon five pillars that mimic a startup's lifecycle from idea to global expansion. This formula has seen substantial success with alumni launched startups having raised over $240M via venture funding.