Draper Startup House to open business hub in Seoul

Tim Draper, CEO of Draper Venture Network.

Draper Startup House, a global business hub for startups and entrepreneurs run by Tim Draper, a Silicon Valley-based investor and founder of Draper Associates, will open its first location in South Korea in Seoul.

According to multiple industry sources on Sunday, Draper Startup House will officially open a location in Sinsa-dong in Gangnam District, southern Seoul. The organization is currently hiring for a range of positions for the new office.

Draper Startup House, first launched in Singapore in 2018, is a global co-living hub for startup entrepreneurs and creators, giving them access to partners, funding, and mentorship to grow their startups.

It operates in 17 locations worldwide, including the United States, Brazil, Vietnam, and Indonesia.

The co-working spaces are known for their unique concept, where entrepreneurs can live and work together, fostering the growth of their ideas.

Some locations even provide entrepreneurs with various kinds of rooms, host business events, such as training sessions, and offer investment opportunities.

“Draper Startup House is a globally recognized hub for startups,” a source said. “The organization’s decision to open a Seoul location proves startups in Korea have a competitive edge.”

Draper, a third-generation venture capitalist, is one of the most prominent figures in Silicon Valley. Dubbed an investment genius, he made early bets on Hotmail and Skype in the 1990s and later on Tesla Inc., SpaceX Corp., Baidu Inc., and Twitter Inc. in the 2000s.

Forbes estimates his net worth at $2 billion.