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It needs a couple of successful exits, which in turn drives angel investing as entrepreneurs growing increasingly wealthy look to help new founders building companies reach their own goals. It requires accelerators and incubators and coworkingspaces to help nurture early ideas, and it needs VC firms investing across stages.
As founder of the famed Silicon Valley venturecapital firm known as Draper Fisher Jurvetson, or DFJ, Draper in 2018 introduced the Startup House concept. Over the past 18 months or so, Draper Startup House helped facilitate funding rounds for multiple Austin startups such as CoachTube, Mentor Method and Tabella.
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