Melbourne, Australia – Draper Startup House, a global network of spaces connected to resources for entrepreneurs, opened its first Australia location in Melbourne in partnership with student accommodation provider, Y Suites, on 30th November.
“This collaboration with Draper Startup House and Y Suites is the first of its kind in the world – to turn a private student accommodation space into a startup incubator,” said Vikram Bharati, founder and CEO of Draper Startup House. “This is significant because the student ecosystem will now have the ability to build businesses while they are studying in university. Hopefully many of these students will become employers and create jobs when they graduate. This is a new model for economic development for the city of Melbourne, and we are very excited to contribute to the community with our efforts.”
The facility provides the university students of Melbourne with a global network of resources and a vast startup ecosystem to tap into while they are studying. Draper Startup House’s considerations for entering the market were the Australian Government’s support of tech ecosystems and industry collaborations through initiatives by institutional bodies such as Startup Victoria and FinTech Australia, and agreements such as the Australia-Singapore FinTech Bridge Agreement.
James Goh Wee Shian, General Manager of Y Suites, said, “With the development of Australia as a regional tech hub as well as a major education hub, this partnership is well positioned to leverage on the incredibly talented pool of international and domestic students. [The partnership] will seek to achieve [the vision of a world-class technological hub] in four distinct ways, as encapsulated by the acronym, ‘ACES.’ We will serve as an anchor hub for community events, collaborate with all stakeholders and start-ups, engage stakeholders to understand their needs and build truly meaningful programs and partnerships, and support start-ups through fundings, resources, networks and other channels.”
The launch was supported by Melbourne-based education technology company HEX, a partner of Draper Startup House and portfolio company of Draper Startup House Ventures.
Draper Startup House Melbourne is located at 183 A’Beckett Street, in Melbourne’s North-Central city area, and joins a network of 31 other Draper Startup House locations throughout Africa, Europe, Asia, the Americas, and Oceania. Interested parties can visit draperstartuphouse.com for more information.
1. Draper Startup House has launched its first location in Australia, through a partnership with Y Suites.
2. The Draper Startup House Y Suites tie-up is unique in the hospitality and startup ecosystem industries, as it combines private student accommodation with with a direct and indirect global network of resources for entrepreneurs
3. The Draper Startup House Y Suites facility provides the university students of Melbourne with a global network of resources and a vast startup ecosystem to tap into while they are studying.
4. For Melbourne, the Draper Startup House Y Suites facility further strengthens its position as a regional tech and education hub of local and international talent and students.
5. The Australian Government’s support of tech ecosystems and industry collaborations through initiatives by institutional bodies such as Startup Victoria and FinTech Australia, and agreements such as the Australia-Singapore FinTech Bridge Agreement, were a consideration for Draper Startup House to enter the market.
6. Draper Startup House Melbourne is Draper Startup House’s first international co-working and co-living space in Australia, joining a network of 31 other locations throughout Africa, Europe, Asia, the Americas, and Oceania.
Y Suites was created out of a vision to develop a global student accommodation brand that puts student experience at the forefront of its mission. It was established in 2020 under Wee Hur Hospitality, a subsidiary of Wee Hur Holdings Ltd, a Singapore listed company with core businesses in the built environment sectors in Singapore and Australia.
Draper Startup House
Draper Startup House began as Tribe Theory, founded by Vikram Bharati in Singapore in March 2018, a concept for digital nomads to have relaxed, yet productive work spaces. It joined the Draper Ecosystem to form Draper Startup House in 2019. Described as a “hostel with a twist”, in that it welcomes and empowers entrepreneurs, startup teams, professional remote workers, and diverse-minded travelers. It connects these audiences to technology venture building programs and investment opportunities, business services, Draper University, and the Draper Venture Network.
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Executive Profile Biographies
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Media Contact Information
Ms. Wing Lew
+65 6357 0522
Draper Startup House International (Singapore)
Ms. Emma Li-Chen Everitt
+65 9053 1546