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We were one of the 6 winners of the OpenIDEO youth employment challenge. While no funding, it is great to have the idea validated by their panel of judges and the OpenIDEO community as a whole.
You can find and follow us on the popular startup listing website Angel List.
We maintain a list of all similar things to the Startup Hostel, while there are a few similar things, we are the only one that we know of which is all year round and open to everyone :)