Thiel Fellowship: A Unique Opportunity for Young Innovators

Have you ever dreamed of dropping out of college and pursuing your own ideas? Do you have a passion for creating something new and impactful?

If yes, then you might be interested in the Thiel Fellowship, a program that offers $100,000 and mentorship to young people who want to build new things instead of sitting in a classroom.

What is the Thiel Fellowship?

The Thiel Fellowship is a two-year fellowship program founded by billionaire Peter Thiel, the co-founder of PayPal and an early investor in Facebook, SpaceX, and many other successful startups.

The fellowship is intended for young visionaries under the age of 22 who have a bold vision for the future and the courage to challenge the status quo.

The fellowship is not a scholarship or a grant, but rather an investment in the potential of the fellows to make a positive difference in the world.

The Thiel Fellowship was launched in 2011 with the aim of encouraging young people to pursue their own learning and innovation instead of following a conventional path of higher education.

Thiel believes that college can be good for learning about what has been done before, but it can also discourage young people from doing something new and original.

He argues that some of the most successful entrepreneurs and innovators in history, such as Steve Jobs, Bill Gates, Mark Zuckerberg, and Elon Musk, either dropped out of college or never attended one.

The Thiel Fellowship offers the fellows a total of $100,000 over two years, as well as guidance and other resources to help them achieve their goals.

The fellows are free to work on any project they want, whether it is a scientific research, a startup, a social movement, or anything else.

The fellows also get access to the Thiel Foundation’s network of founders, investors, scientists, and mentors, who can provide them with advice, feedback, connections, and opportunities.

The fellows are expected to dedicate themselves fully to their projects and to move to the San Francisco Bay Area, where most of the fellowship activities take place.

How to Apply for the Thiel Fellowship?

The Thiel Fellowship is open to anyone under the age of 22 who has a strong interest and aptitude in any field of science, technology, engineering, mathematics, or entrepreneurship.

The fellowship does not require any academic qualifications, test scores, or recommendations. The only criteria are the fellows’ passion, creativity, and ambition.

The application process for the Thiel Fellowship is simple and straightforward. The applicants need to fill out an online form, where they have to provide their personal information, a short bio, a description of their project idea, and a video pitch.

The applicants can also submit any additional materials that showcase their work, such as a website, a portfolio, a prototype, a research paper, or a blog post. The deadline for the application is usually at the end of December every year.

The Thiel Foundation reviews the applications and selects a few hundred semifinalists, who are invited to an online interview.

The interview is an opportunity for the applicants to explain their project idea, their motivation, and their vision in more detail.

The interviewers also ask the applicants some challenging questions to test their logic, reasoning, and problem-solving skills.

Based on the interview, the Thiel Foundation selects about 50 finalists, who are invited to a summit in San Francisco. The summit is a three-day event where the finalists get to meet each other, the Thiel Foundation staff, and some of the current and former fellows.

The summit also includes workshops, panels, presentations, and social activities. The summit is the final stage of the selection process, where the finalists have to impress the Thiel Foundation with their personality, potential, and enthusiasm.

At the end of the summit, the Thiel Foundation announces the new batch of fellows, who usually consist of 20 to 25 young people from diverse backgrounds, countries, and fields of interest. The new fellows then start their two-year journey of learning, experimenting, and creating.

What are the Benefits of the Thiel Fellowship?

The Thiel Fellowship is not just a financial support, but also a life-changing experience for the fellows. The fellowship offers the fellows a number of benefits, such as:

• Freedom: The fellows have the freedom to work on whatever they want, whenever they want, and however they want. They do not have to follow any curriculum, schedule, or rules. They can choose their own goals, methods, and partners. They can also change their project idea or direction at any time, as long as they are making progress and learning from their failures.
• Mentorship: The fellows have access to the Thiel Foundation’s network of mentors, who are some of the most successful and influential people in the fields of science, technology, and entrepreneurship. The mentors can offer the fellows guidance, feedback, advice, and connections. The fellows can also learn from each other, as they form a community of peers who share similar interests, challenges, and aspirations.
• Opportunity: The fellows have the opportunity to work on cutting-edge and impactful projects that can make a difference in the world. The fellows can also leverage the Thiel Foundation’s network of investors, partners, customers, and media, who can help them scale their projects and reach a wider audience. The fellows can also participate in various events, conferences, and competitions, where they can showcase their work, network with other innovators, and win awards and recognition.
• Growth: The fellows have the opportunity to grow as individuals, as learners, and as leaders. The fellowship challenges the fellows to step out of their comfort zone, to take risks, to fail, and to learn from their mistakes. The fellowship also encourages the fellows to explore new fields, to acquire new skills, and to discover new passions. The fellowship also helps the fellows to develop their confidence, resilience, and vision.

What are the Challenges of the Thiel Fellowship?

The Thiel Fellowship is not for everyone. The fellowship is a demanding and competitive program that requires a lot of commitment, hard work, and perseverance. The fellowship also comes with some challenges, such as:

• Isolation: The fellows may feel isolated from their friends, family, and society, as they drop out of college and move to a new place. The fellows may also face social stigma and criticism from people who do not understand or support their decision. The fellows may also miss out on some of the benefits and experiences of college life, such as academic learning, extracurricular activities, and social interactions.
• Pressure: The fellows may feel pressure from themselves, the Thiel Foundation, and the public, as they have to prove themselves and their projects. The fellows may also face competition and comparison from other fellows, who may have different levels of experience, expertise, and success. The fellows may also face uncertainty and doubt, as they have to deal with the challenges and risks of entrepreneurship, such as market demand, customer feedback, legal issues, and financial sustainability.
• Balance: The fellows may find it difficult to balance their personal and professional lives, as they have to dedicate themselves fully to their projects. The fellows may also find it difficult to balance their physical and mental health, as they have to cope with stress, fatigue, and burnout. The fellows may also find it difficult to balance their passion and pragmatism, as they have to pursue their vision and also adapt to reality.

What are the Outcomes of the Thiel Fellowship?

The Thiel Fellowship is not a guarantee of success, but rather a catalyst for innovation. The fellowship does not measure the fellows’ success by their income, valuation, or impact, but rather by their learning, growth, and contribution.

The fellowship does not have a fixed outcome, but rather a range of possibilities. The fellowship does not end after two years, but rather continues as a lifelong journey.

The outcomes of the Thiel Fellowship vary from fellow to fellow, depending on their goals, achievements, and choices. Some of the possible outcomes are:

• Continuing: Some fellows may continue working on their projects after the fellowship, either as solo entrepreneurs or as part of a team. Some fellows may also start new projects or join existing ones, either in the same field or in a different one. Some fellows may also raise funding, launch products, acquire customers, and generate revenue, either during or after the fellowship.
• Returning: Some fellows may return to college after the fellowship, either to complete their degree or to pursue a new one. Some fellows may also return to their previous jobs or careers, either to gain more experience or to explore new opportunities. Some fellows may also return to their home countries or regions, either to apply their skills or to serve their communities.
• Pivoting: Some fellows may pivot their projects after the fellowship, either by changing their idea, market, or model. Some fellows may also pivot their careers after the fellowship, either by switching their field, role, or industry. Some fellows may also pivot their interests after the fellowship, either by learning new skills, discovering new passions, or joining new movements.
• Failing: Some fellows may fail their projects after the fellowship, either by running out of money, losing customers, or shutting down. Some fellows may also fail their careers after the fellowship, either by losing their jobs, quitting their studies, or facing legal troubles. Some fellows may also fail their lives after the fellowship, either by suffering from health problems, relationship issues, or personal crises.

What are the Examples of the Thiel Fellowship?

The Thiel Fellowship has supported over 200 young innovators from over 30 countries and various fields of science, technology, and entrepreneurship. Some of the examples of the Thiel Fellowship are:

• Vitalik Buterin: Vitalik is the co-founder of Ethereum, a decentralized platform that runs smart contracts and applications. Vitalik was a Thiel Fellow in 2014, when he was 20 years old. He dropped out of the University of Waterloo to focus on developing Ethereum, which is now the second-largest cryptocurrency by market capitalization and the most widely used blockchain for decentralized applications. Vitalik is also a prominent writer, speaker, and researcher in the fields of cryptography, game theory, and distributed systems.
• Ritesh Agarwal: Ritesh is the founder and CEO of OYO, a hospitality company that operates a network of hotels, homes, and spaces. Ritesh was a Thiel Fellow in 2013, when he was 19 years old. He dropped out of the Indian School of Business and Technology to launch OYO, which started as a platform to book budget hotels in India. OYO has since expanded to over 80 countries and has become one of the largest hotel chains in the world. Ritesh is also one of the youngest self-made billionaires in the world.
• Laura Deming: Laura is the founder and partner of The Longevity Fund, a venture capital firm that invests in companies that aim to extend human lifespan and healthspan. Laura was a Thiel Fellow in 2011, when she was 17 years old. She dropped out of MIT to pursue her passion for aging research, which she started at the age of 12. She has backed some of the leading biotech startups in the field of longevity, such as Unity Biotechnology, Metacrine, and BioAge Labs. Laura is also a frequent speaker and writer on the topic of aging and longevity.

What are the Statistics of the Thiel Fellowship?

The Thiel Fellowship has been running for over a decade and has produced some impressive results. Here are some of the statistics of the Thiel Fellowship, as of 2021:

Category	Number
Total number of fellows	223
Total number of countries represented	32
Total number of fields of interest	18
Total amount of funding raised by fellows	$3.5 billion
Total valuation of fellows’ companies	$23 billion
Total number of patents filed by fellows	67
Total number of papers published by fellows	45
Total number of awards won by fellows	142

What are the Criticisms of the Thiel Fellowship?

The Thiel Fellowship is not without controversy and criticism. Some of the criticisms of the Thiel Fellowship are:

• Anti-education: Some critics argue that the Thiel Fellowship is anti-education and anti-intellectual, as it encourages young people to drop out of college and to disregard the value of formal learning. They claim that college is not only a place to acquire knowledge and skills, but also a place to develop critical thinking, social skills, and cultural awareness. They also point out that college graduates tend to have higher incomes, better health, and more opportunities than dropouts.
• Elitist: Some critics argue that the Thiel Fellowship is elitist and exclusive, as it only selects a few young people who have already demonstrated exceptional talent and achievement. They claim that the fellowship is not accessible or representative of the majority of young people, who may not have the same resources, opportunities, or support as the fellows. They also question the diversity and inclusion of the fellowship, which has been dominated by white males from wealthy backgrounds.
• Unrealistic: Some critics argue that the Thiel Fellowship is unrealistic and irresponsible, as it exposes young people to high levels of risk and uncertainty. They claim that the fellowship is not a realistic or sustainable model for most young people, who may not have the same passion, vision, or resilience as the fellows. They also warn that the fellowship may create unrealistic expectations and pressures for the fellows, who may face failure, disappointment, or regret.

What are the Alternatives to the Thiel Fellowship?

The Thiel Fellowship is not the only option for young people who want to pursue their own ideas and projects. There are many other alternatives to the Thiel Fellowship, such as:

• Other fellowships: There are many other fellowships that offer similar benefits as the Thiel Fellowship, such as funding, mentorship, and network. Some examples are the Davidson Fellows, the Echoing Green Fellowship, the Gates Cambridge Scholarship, and the Rhodes Scholarship.
• Online courses: There are many online courses that offer high-quality and flexible learning opportunities for young people who want to acquire new knowledge and skills. Some examples are Coursera, edX, Khan Academy, and Udemy.
• Bootcamps: There are many bootcamps that offer intensive and practical training for young people who want to learn how to code, design, or start a business. Some examples are App Academy, General Assembly, Hack Reactor, and Startup School.
• Incubators and accelerators: There are many incubators and accelerators that offer support and resources for young people who want to launch and grow their startups. Some examples are Y Combinator, Techstars, 500 Startups, and MassChallenge.
• Coworking spaces and makerspaces: There are many coworking spaces and makerspaces that offer access and community for young people who want to work on their projects and collaborate with other innovators. Some examples are WeWork, Impact Hub, Fab Lab, and Maker Faire.

Conclusion

The Thiel Fellowship is a unique and exciting opportunity for young innovators who want to pursue their own ideas and projects instead of following a conventional path of higher education.

The fellowship offers the fellows freedom, mentorship, opportunity, and growth, as well as challenges, risks, and uncertainties.

The fellowship has supported over 200 young people from diverse backgrounds, countries, and fields of interest, who have achieved remarkable results in science, technology, and entrepreneurship.

The fellowship is not for everyone, but for those who have a bold vision for the future and the courage to challenge the status quo.

If you are one of them, you can apply for the Thiel Fellowship and join the community of young visionaries who are changing the world.