Thiel Foundation will award up to $100,000

What is the Thiel Fellowship?

The Thiel Foundation will award up to 20 people under 20 years old cash grants of $100,000 to further their innovative scientific and technical ideas. In addition, over a two year period, our network of tech entrepreneurs and philanthropists—drawn from PayPal, Facebook, Palantir Technologies, Founders Fund, the Singularity Institute, the Seasteading Institute, and others—will teach the recipients about creating disruptive technologies and offer mentorship, employment opportunities, support, and training.

Though applicants may already have in mind scientific or technical ideas, the Thiel Fellowship is not limited to those with developed innovations. The purpose of the Fellowship is broad: the grants are intended to enable the recipients to achieve a specific objective, produce a report or other similar project, or improve or enhance a scientific, technical, or charitable capacity, skill, or talent.

Teams of up to four persons may also apply. Each member of a selected team would receive the full fellowship; therefore, each team member must fill out the application and the team will be judged on the strength of all members.

Applications must be submitted by December 31, 2010. Applicants must be under 20 years old as of December 15, 2010. Applicants may be from anywhere in the world, except from certain countries whose residents are banned by the United States Government from participation. There will be no limitations or restrictions in the selection criteria or procedures based on race, religion, national or ethnic origin, or other illegally discriminatory criteria in any grants made for Thiel Fellowships. Applications and entries will be subject to the Official Rules, which applicants must read and agree to, and which can be found here.

The Foundation will begin announcing Fellows as early as January 2011. Fellowships must be accepted within one week of being offered. Offers to teams may be contingent on all members accepting. All members of a team must accept the fellowship, or the others may forfeit eligibility. Recipients may begin their two-year fellowship at any point in 2011. If currently a student, a recipient must stop active enrollment in school during the fellowship. During the two-year fellowship, recipients should not have any other employment or educational enrollment except as approved by the Thiel Foundation.

Recipients are urged, though not required, to move to California in order to take full advantage of the mentoring, support, and training opportunities of the Foundation’s partners. Visas may be sponsored by the Thiel Foundation. Recipients are responsible for paying their own taxes. Recipients are responsible for arranging and managing their own housing and living expenses. The fellowships will be awarded in two payments: one at the beginning of the first year, and the remainder during the second year. The Foundation reserves the right to accelerate the award schedule or modify the Thiel Fellowship.

During the fellowship, regular status reporting will be required. This may include written status reports, access to research and project activities, and review meetings with advisors.

Source: http://thielfoundation.org/index.php?option=com_content&id=18