Founder and Managing Director of Draper Fisher Jurvetson Venture Fund, Tim Draper, bought the Benjamin Franklin Hotel in San Mateo, CA with a dream of renovating the building and turning it into a University for Entrepreneurs earlier this year. The Draper University of Heroes welcomed its first batch of 20 entrepreneurs this week to be part of a pilot program that will pave the way for the University, which is set to open in January of 2013.