Local entrepreneur accepted as 2016 Thiel Fellow

(Jackson, Wyo.) - Local entrepreneur and founder of Yellowberry Megan Grassell has been accepted into the 2016 class of Thiel Fellows. The Thiel Foundation announced Tuesday that they accepted 29 new members into the 2016 class of Thiel Fellows. The fellowship provides young people with $100,000 to learn by doing rather than by following conventional paths like college. This year’s cohort was selected from more than 6,000 applications received from around the world. Grassell founded Yellowberry in high school when she realized that tween girls like her younger sister lacked age-appropriate options when buying their first bras. Three years later, Yellowberry has pioneered a new approach to this market, and has expanded beyond bras to underwear, loungewear, and activewear. “We launched the fellowship in 2011 to test a simple thesis: college isn’t right for everyone—especially for young people who want to create new things,” said Blake Masters, President of the Thiel Foundation. “This has been proven true—by the successes of our past fellows, by the new applications we get every year, and by the growing numbers of young people who are creating their own career paths outside of college, with or without a fellowship from us.” Thiel Fellows receive mentorship and guidance from current and former fellows, as well as from the Thiel Foundation’s network of technology entrepreneurs, investors, and scientists. “In the past few years we’ve seen a dramatic change in the way young people approach their potential,” said Jack Abraham, Executive Director of the Thiel Fellowship. “Many are applying to the program with one or two companies already under their belts—they’ve become successful founders before they can even buy a beer. Our message may have seemed odd four or five years ago—some found it blasphemous to question how well American higher education was working, and to suggest entrepreneurship as an alternative path—but today even the colleges are waking up; top schools are creating their own incubators, crafting more flexible stop-out policies, and even raising venture capital funds. Young people now have more options than ever.” To date, companies created by Thiel Fellows are together worth more than $1.4 billion. *Feature Photo: Megan Grassell. h/t Megan Grassell / Pitchengine Communities* #buckrail #news #bootstrapped