Tech investor is looking for 20 of the biggest innovators in Silicon Valley under the age of 20, offering $100,000 to contestants so they can further develop their projects.
In a CNBC special called “20 Under 20: Transforming Tomorrow,” the two-part series follows the journey of 20 young men and women who aim to become the next Steve Jobs and Mark Zuckerberg.
The show, which airs on July 11 and July 12 at 10:00 p.m. ET on CNBC, will show contestants pitching concepts to a room for of Silicon Valley investors and entrepreneurs.
But for those who sign on and get a $100,000 grant from Thiel — the former co-founder of Pay Pal and an early investor in — they have to walk away from college.
“Things that require innovation, technology often involve a lot of risk and I’m very concerned that the enormous amount of debt run up by students prevents people from starting the kinds of businesses that will move the dial of the economy,” Thiel said in a CNBC clip.
Do you think grants like this are a good way to usher in a new wave of entrepreneurs? Do you think fellowship winners should still be allowed to go to college?