4 Blockchain Entrepreneurs Awarded $100K By Winning Thiel Fellowship Award
The Thiel Foundation today named 20 people into the 2018 class of Thiel Fellows. The Fellowship program, which launched in 2011, encourages talented young people to pursue big ideas and start companies instead of attending college. Each recipient will be given a $100,000 grant over the next two years to help them build their current and future projects.
Among this year's recipients are Vest co-founder Axel Ericsson, Polkadot co-founder Robert Habermeier, MyCrypto CTO Daniel Ternyak and Mechanism Labs co-founder Aparna Krishnan.
To date, companies created by Thiel Fellows are worth more than $3 billion combined, not including Thiel fellow-created Ethereum, a distributed computing platform whose cryptocurrency Ether has a market cap of about $50 billion as of June 22.
Allyson Dias, director of the Thiel Fellowship, said the purpose of the fellowship is to help young aspiring entrepreneurs to find innovative approaches to tackle real-world issues. She added:
“College isn’t for everyone, and it certainly isn’t for everyone fresh out of high school. Leaving behind the safety of the classroom and choosing to build a business instead isn’t easy or glamorous. But our Fellows have found what we suspect to be true more broadly: young people learn best by doing things in the real world.”
Notably, Theil himself is a cryptocurrency supporter. His Founders Fund, a San Francisco-based venture capital firm, reportedly invested in $20 million' worth of bitcoin this January.