Wednesday, May 25, 2011

Peter Thiel Announces $100K Award Winners

Peter Thiel, the co-founder of PayPal, has announced the first 24 recipients of $100,000 each for his effort to steer promising youth to startups, rather than college. Thiel announced twenty-four "Thiel Fellows", who will receive $100,00 from the Thiel Foundation over two years, to work on their scientific and technical projects and startups. The Foundation said it received more than four hundred applications for the spots, from nearly two dozen countries. Thiel that he hopes the effort will help "young people everywhere realize that you don't need credentials to launch a company that disrupts the status quo.”