BELIEVING that higher education is broken and not delivering on its promises and objectives, Peter Thiel, the co-founder of PayPal, took matters into his own hands.
In order to lure highly talented young people away from pursuing their undergraduate degrees at top universities, in 2010 he announced the Thiel Fellowship. Every year since then, the Thiel Foundation offers around 20 grants of US$100, 000 (RM418, 000) each to young people to leave the best universities and use the money to work on entrepreneurial ideas rather than pursue a degree.
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