Today we’d like to introduce you to Daniel Wiegand
Hi Daniel, please kick things off for us with an introduction to yourself and your story.
My Co-Founder (Katie Russel), & I met while working for Silicon Valley Venture Capitalist Tim Draper after both attending Draper University in San Mateo. After attending Draper University as Students (Daniel 2016/Katie 2017) Katie & I both started working for Tim Draper in different capacities. Katie was head of Business Development for Draper University & helped launch Draper University Ventures (Seed Fund for DU Alumni). I launched the Draper Hero Institute (A 501(c)(3) to promote entrepreneurship and help make entrepreneurial resources more widely available (Makerspace & Virtual Reality Arcade). The Draper EcoSystem is located in Silicon Valley, is composed of Draper University (Education & Accommodation), Hero City (Co-Working), DraperTV (Media & Online Education), and the Draper Venture Network (23 Global Funds). After. multiple years of working within the Draper EcoSystem in San Mateo and seeing the huge impact that the Draper Eco System has had on those fortunate enough to access those resources Katie, Tim, & I put our heads together to see how we could expand this impact globally. We wanted a way for us to take all of the pieces of the Draper EcoSystem (Education, Housing, Co-Working, & Access to Venture Capital) and spread it across the globe so that everyone can gain access to the tools and resources that we provide. After many brainstorming sessions, we decided the best way to spread this impact was through the use of Entrepreneurial Hostels spread in every major city in the world. Alas, Draper Startup House was born. Draper Startup House is a network of Co-Living and Co-Working spaces for entrepreneurs across the globe. We offer accommodations, work space, entrepreneurial education, and access to venture capital funding. We closed our investment from Tim Draper in January of 2020 and aimed to launch our first US Location downtown Austin on 6th street at SXSW 2020. We had our hostel ready to go for our launch, in March. 17th 2020 with over 2,000 people on our launch party guest list (Great Timing!). Covid-19 unfortunately shut down our launch event and forced a pivot on our end as the three pillars of our business Travel, Hospitality, & Community were hit the hardest by pandemic. We quickly decided we needed to pivot our business model. We spent the next few months redeveloping our hostel which we had just finished getting ready, into flexible office space for Startups, Entrepreneurs, Digital Nomads or really anyone needing a flexible work space. We transformed our 26 individual rooms into private offices that can be rented by the hour, day, week or month. We turned our “Bunk” rooms into large conference rooms & a rentable podcast studio. We launched the new space in September of 2020. With the hostel now fully transformed into a flexible workspace, we needed to figure out a way to re-incorporate the hospitality/housing portion of our business. This is a huge aspect of our business for many reasons, but one of the largest reasons is that we feel it really helps us get to know the founders better as individuals so that we can make a more informed decision on funding that individual or team. We are doing this by crowdfunding a residential property nearby where we can house the entrepreneurs and shuttle them (likely by golf cart) to the co-working space. Link to Crowdfund: https://republic.co/real-estate/draper-startup-house-austin While, Covid-19 certainly was unexpected and forced our hand in many ways, we did gain some valuable insights from our customers and we believe the new business model of separating the housing from the co-working will ultimately prove beneficial for us in the long run. Mainly, by separating the housing portion from the co-working portion (as opposed to having hostel & co-working combined) actually has opened up arguably the most important customer demographic that we were unintentionally excluding, the local Austin community. Some Austin residents expressed hesitancy to work out of a space that was also a hostel, and by separating the housing from the co-working we feel we can better serve both markets. With 2020 in the rearview, our goal for 2021 is to continue to serve the Austin market and to continue to help entrepreneurs, startups, digital nomads & small businesses. Whether they are just flirting with the idea of becoming an entrepreneur, have an established startup or business, or are raising capital, we are here to help.
Would you say it’s been a smooth road, and if not what are some of the biggest challenges you’ve faced along the way?
Starting a hospitality business that prides itself on travel, close quarters accommodations and in person community right as Covid19 hit was obviously a huge obstacle for us that we have had to overcome (and still are). We were forced to pivot our business model drastically but ultimately feel like we have a better understanding of the market, our business model and what is important to us as a company. (A lot of it detailed in last question)
We’ve been impressed with Draper Startup House, but for folks who might not be as familiar, what can you share with them about what you do and what sets you apart from others?
Draper Startup House is a global network of business hubs that empowers entrepreneurs and startups globally. We do this through a network of co-living & co-working spaces across the world. On top of the physical resources, we provide entrepreneurial education and access to Venture Capital through the Draper Venture Network as well as the hundreds of local angel investors & venture capitalists in each of our 9 international locations. We specialize in early stage startups but are industry and stage agnostic with regards to gaining help raising capital. We separate ourself from other similar companies by fostering an inclusive community that fosters innovation, thinks 10x, and encourages diverse minded individuals to explore their ideas. We hold recurring pitch events, design workshops, and weekly office hours with VC’s. Instead of trying to find reasons why a business idea won’t work, we like to ask “What happens if it does work?”. The main thing I would like the readers to understand about our brand and our offerings is that nobody is excluded and you do not need to fit into the typical mold of the word “Entrepreneur” to use our resources. Whether you just have an idea you want to work on but don’t know where to start, have an existing company, are a digital nomad, are working remotely and just want a flexible workspace, we have tools and resources that apply to everyone. Maybe you just need a short term living solution while you are visiting Austin and want to get plugged into the Startup Scene? Maybe you are moving to Austin and need a short term solution while you find your ideal area? Maybe you just want to attend our events and get plugged into the local VC scene? We can help with all of the above.
If we knew you growing up, how would we have described you?
Growing up I was a fun loving kid and loved hanging out with my friends. We would play sports, go hiking, camping and really anything outdoors. However, I also pursued my passions vigorously. When I decided to pursue something, I would do everything in my power to reach that goal. My first two loves were sports and business/entrepreneurship. I decided early on in high school that I wanted to work in the sports industry (after realizing my childhood dream of being a professional athlete quickly faded), combining my passion for sports and business. I attended the University of Oregon where I studied Business Administration & Sports Business and was an active member of the University of Oregon Sports Business Club. I landed my dream internship the summer of 2014 going into my Senior year with the Golden State Warriors. This was one of the most meaningful experiences of my life in multiple ways, the first being seeing firsthand how a large and successful operation such as an NBA franchise is run, and the second being that I learned I did not want to work in sports. That key learning was a huge pivot point in my life and has lead me to where I am today. I am forever grateful for that opportunity and learning experience.
Contact Info:
- Email: daniel@draperstartuphouse.com
- Website: draperstartuphouse.com/usa
- Instagram: https://www.instagram.com/dshaustin/
- Facebook: https://www.facebook.com/dshaustin
- Twitter: https://twitter.com/dshglobal
