January 29, 2015
Draper University, the unique program established by renowned venture capitalist Tim Draper which aims to empower a new generation of entrepreneurs through education and mentorship, has announced today that it is bringing on current Draper Dragon Fund managing director, Andrew Tang, as its new CEO. In addition, it also announced the launch of the Draper Ecosystem – an expansion of available venture funds, education and mentor opportunities, and incubation programs for those within the Draper Network.
“I am thrilled to have Andy on board; he has a fantastic blend of experience in entrepreneurship, venture investing and corporate development,” said Tim Draper, founder of Draper Associates/DFJ/Draper University, in a statement. “He helps entrepreneurs around the world, advising them on resources and access to capital. He is passionate about building early-stage companies and nurturing talent, which is the backbone of Draper University. “
Prior to his role at the Draper Dragon Fund, Tang was the managing director at ABB Technology Ventures as well as director for Infineon Ventures/Infineon Technologies. According to Draper University, Tang will continue to serve at the Draper Dragon Fund on top of this new CEO role. In his new position, Tang is tasked with ensuring that the school's entrepreneurship program is recognized globally and interacting with the various angels, accelerators, early-stage VCs, and company executives throughout the Draper Ecosystem. He will also be in charge of spearheading the program's efforts for creating more opportunities for female entrepreneurs.
Draper University's unique program involves student entrepreneurs to live and work at the institution itself. Through this immersive residential program in Silicon Valley, students get direct access to important figures in the tech scene, engage in various workshops and team activities, receive mentorship from the brilliant minds within the Draper Network, and work on their respective startups along the way. The new Draper Ecosystem is made up of a few components:
- Hero City: Located across from Draper University's main building, Hero City will house an incubator, coworking space, and offices of various VC funds.
- Draper University: The 7-week residential program for entrepreneurs that runs four times a year and accepts 40 participants per quarter. Tuition costs $9,500, but the program offers scholarships.
- VCx: An invite-only, one-week program designed to teach high net work individuals how to invest in early-stage companies.
- Executive Education: A one-week program created to educate executives on the fundamentals of new ventures as a way to create innovation inside corporations.
- Draper Associates: A seed-stage VC fund whose portfolio includes Tesla, Twitch, Theranos, and DocuSign.
- The DFJ Global Network: A collective of 14 independent VC funds, with more than 100 VCs and portfolio of more than 500 startups across the Americas, Europe, and Asia.
To learn more about Draper University visit their website.
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