Silicon Valley entrepreneur Peter Thiel has announced that the Thiel Foundation is accepting applications for a new class of "20 Under 20" Thiel Fellows.
Thiel Fellowships provide two-year grants of $100,000 to 20 people under 20 years of age so that they can leave the classroom and pursue innovation.
Since the Thiel Fellowship began in 2011, more than 40 young people have been awarded fellowships for project ideas in fields ranging from nuclear and alternative energy, to robotics and biotechnology, to finance, 3D printing, gaming, and software.
During the two-year fellowship, the Thiel Foundation and its network of mentors provide guidance and support to help fellows build their scientific, technical, and entrepreneurial ideas. While fellows are expected to work on their innovative ideas full-time, they determine their specific paths;this might mean starting a company but could also mean doing freelance work, developing a social movement, interning at another company, or pursuing research and development independently.
Though applicants may already have scientific, technical, or nonprofit ideas, Thiel Fellowships are not limited to those with established companies or developed innovations. Teams of up to four may also apply.
To be eligible, applicants must have been born after December 31, 1992. Candidates from around the world are encouraged to apply.
Fellows are encouraged to move to the San Francisco Bay Area for the opportunities and resources that the area provides. However, fellows are welcome to work on their projects from any location. Fellows are asked to take two years away from college so that they can fully focus on their projects without the time and expense of college.
Complete program guidelines, application procedures, andinformation on previous fellows' projects are available at the Thiel Fellowship Web site.