As a first year Thiel Fellow(meaning I have been an alum for the past few months) I can safely say that it was an incredible experience and I would definitely suggest applying if you are eligible and on the fence.
If you are thinking about applying and have any questions I'm happy to answer them(cammarata.nick@gmail)
Remember that this isn't an incubator, so a lot of them aren't making startups. For example, Dale Stephens is doing http://www.uncollege.org/ (Organization aimed at promoting lifelong learning through "bootcamps") and Laura Deming is doing http://longevity.vc/ (VC firm aimed at funding companies trying to solve aging)
I know of a couple of exits, but I'm not actually sure which are public so I'm trying to find articles.
> Again, the Fellowship is not an accelerator, so judging it based off successful exits is a terrible criteria.
I understand that it isn't solely for startups, but the Wikipedia article mentions that as one of the types of work Thiel Fellows pursue (along with "scientific research" and "working on a social movement"). And since we're on Hacker News, which caters to the entrepreneurial crowd, it made sense to ask whether there were any successful startups or exits from the program. If we were on a site for scientific research or social movements, I would have asked for more details on any successes in those areas.
Current (2013) Fellow here: The Fellowship isn't just about startups and exits. As one of the fellows who is interested in entrepreneurship and is working on a company, I can say my main goal at this moment is to further develop the technology I am working on regardless of if it will make for a good company right now. A lot of other fellows are working on science for the sake of science, and shouldn't be discounted just because they don't have a profit driven goal.
I get the idea that entrepreneurship training likely happens better outside of a formal academic setting (YC is best example), but seems less likely that science training will. PhD programs are a solid road for training serious scientists. I'd be surprised if Thiel Fellowship was better, curious what is driving the science-focused folks to try it.
I definitely don't see the fellowship as a substitute for a proper academic training in the sciences. A solid training is important; I have benefited greatly from my academic roots and support (Harvard).
In that context, the fellowship represents a supplement to my academic training, exploring the translational science that lies between basic research and commercialization.
I'm taking a detour from the traditional course of study primarily so that I can spend some of my time working in the aspects of translation that extend beyond the lab. In my biomedical field, that is everything from medical workflow to regulatory affairs to product pipelines to validation studies.
More broadly, I'm doing this exploration in the context of a tractable project that has involved both research and commercialization. It's at the intersection of my scientific interests, and is fueled by a desire to help people in a tangible way. The timing is such that it makes sense for me to dive into it full-time with my existing training.
I'm still learning many things, some in academic research settings and others in commercial settings. The fellowship simply serves to focus my limited time to the intersection of those two areas.
You bet I'll be back in academia after this, but in the meantime, taking a small bite out of cancer seems a worthy detour.
Feel free to shoot me a mail (email in profile) if you're curious.
"curious what is driving the science-focused folks to try it."
I 2nd this question. I'm all for hating on universities, i work at a big one, but pretty hard for Thiel to create a comparable ecosystem for those fellows in it for long-haul scientific pursuits.
I do not think it makes sense for the Fellowship to supplant research at big universities, or even compete with it. Flawless these are not, but there is much good derived from academic, basic science.
I do think that the Fellowship can be an interesting venue for young scientists to explore the cracks between basic science and industrial progress. A grounded student with a clever project can make good use of the fellowship understanding what it takes to bring that project closer to the real world.
Translational science can seem rather opaque, and being thrust into that world without a ramp to learn is hard.
Even if it were a incubator, there probably wouldn't have been any significant exits in just two years.
That said, I know at least one making an interesting Apple-design-inspired hardware product that's hoping to launch by the end of this year. Well funded, good people, could be big.
In addition to MIT_Hackers comment, I had a smallish exit a year ago(we never did press nor really announced it). Other ones are private at the moment.
Looks like Nick is reaching out, but best way is to get to know a fellow.
You get access to some pretty neat tools as a mentor and you also connect with other people in the network easily. All we ask in exchange is that you give us some advice jellybeans which we might like the color of.
If you are thinking about applying and have any questions I'm happy to answer them(cammarata.nick@gmail)