Tech investor Peter Thiel wants to give young entrepreneurs $100,000 to leave school and build businesses.
Some students may strongly consider dropping out of college if someone provided financial resources to pursue their dreams of innovating the world. That's what technology investor Peter Thiel is banking on in a new CNBC special called "20 Under 20: Transforming Tomorrow," a two-part series that follows 20 young innovators under the age of 20 as they compete for a $100,000 Thiel Fellowship position.
The show, which will air on August 13 and August 14 at 10 p.m. ET on CNBC, features contestants pitching their ideas to Silicon Valley investors, including Thiel and Sean Parker, Napster cofounder and Facebook founding president.
But in order for contestants to accept and receive the grant from Thiel, they have to forgo their college plans.
"The world's hardest problems aren't going to solve themselves. If you have a great idea, the right time to work on it isn't four years off—it's now," Thiel said in a press release. "We're looking forward to giving a new class of Thiel Fellows the time, mentorship, and support to bring their most innovative dreams to life."
[See why some students favor start-ups over college.]
Thiel, who has long argued that college is leading students to heavy debt loads and limited employment opportunities at graduation, originally launched the 20 Under 20 Thiel Fellowship in May 2011, giving 24 young entrepreneurs the chance to leave school and build start-up businesses.
Question for our readers: Do you think bypassing a college education is the answer to building innovative businesses? Share your thoughts with us in the comments section below.
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