Are you a young and aspiring entrepreneur but not sure how to get started and raise funds? Here’s something that might help.
The Thiel Fellowship gives $100,000 to young people who are less than 23 years of age and plan to build new things.
What is Thiel Fellowship?
The Thiel Fellowship was started in 2011 by Peter Thiel, entrepreneur and the co-founder of Paypal. The Thiel Fellowship is a two-year program for young people who want to be an aspiring entrepreneur and build new things.
People who are selected for the fellowship or Thiel Fellows, drop out of college in order to receive the $100,000 grant and support from the Thiel Fellowship team of investors and founders.
Every year, Thiel Fellowship is awarded to around 20-30 people worldwide.
Why Thiel Fellowship?
Peter Thiel believes that there’s a different path for everybody out there and during the path of entrepreneurship, money should not be a hurdle to stop you from achieving great things.
As the New York Times said, “Thanks to the Thiel Fellowship, access to some of the nation’s most successful businesspeople is quick and easy.”
Who can apply?
Anyone who is 22 years or less than 22 years of age can apply for the fellowship. You don’t even need to have incorporated a company or built a full product yet, all you need is an idea and a meaningful vision.
You can even apply for the fellowship if you’re in school.
What’s the selection criteria?
There isn’t any specific criteria for the selection. The most important thing is to have a feasible idea and determination towards achieving the goal and proving the fact that your idea can be executed.