A new, and somewhat unique, startup program has opened its doors in South Africa. The HackR House, literally a house, will host four startup teams of two entrepreneurs who will live alongside each other for a maximum of six months.
Part of the process at the HackR House is that every two months, entrepreneurs in the house, will need to complete an entrepreneurial challenge, namely producing a Minimum Viable Product (MVP) and getting their first paying customer.
Craig Wing, Founder at the HackR House.
“Entrepreneurs need support all hours of the day. Often come, say 2am, they won’t be able to sleep rather they’re thinking about a solution to a problem or thoroughly stressed about business. It’s in these moments that they need support, not when things are fine," said Craig Wing, Founder of the HackR House.
Wing also explained that the house was primarily created from his experience to address these and other problems.
"My key thesis is: Entrepreneurs living together have a higher probability of success, especially when coupled with the right support at the right time and with enough pressure to drive them to success, not wasting months and years chasing an idea that's infeasible,” said Wing.
Added to housing the entrepreneurs, the HackR House will provide additional support such as coaching and mentoring from established entrepreneurs who have a combined 150 years of entrepreneurship experience. There is also support from HPLife, LEAP and Ignitor.
Wing has previously started four companies including one in Silicon Valley,
The HackR House has opened applications for interested entrepreneurs for the pilot phase (without programmatic support) with the first round closing on the 2nd October 2017 and the second round closing on the 16th October 2017. The full program will launch in February 2018.