Last fall, the Peter Thiel Fellowship gave 24 budding entrepreneurs $100,000 over two years to drop out of college and pursue their startup dreams. How have the young founders fared?
In this post for Inc. Jillian D’Onfro reports that a year on from the Peter Thiel Fellowship inaugural class, “all 24 of the originally selected 2011 fellows remain active in the program,” and the second class has already been announced. Peter Thiel, the angel investor and co-founder of PayPal behind the foundation, “thinks that rather than spend four (or more) years acquiring a crushing debt load, creative talents should go directly into enterprise.” The Peter Thiel Fellowship first year members have started robotics companies, alternative-education sites, mobile social gaming enterprises, and other ventures. While not all of their new companies are producing revenue yet, none of the fellows miss the rigid structure and routine of college life.