PayPal Co-founder Peter Theil Offered $100,000 to British Teen to Help Create a Company

Paypal co-founder and Tech tycoon Peter Theil has offered Andrew Brackin, a British teen, with $100,000 to help in creating a technology firm but with a condition that he has to attend a university in San Francisco for two years.

The British teenager is one of the youngest businessman to offered with cash. Brackin have gone through rounds of thorough tests in the 2013 Theil Fellowship. The offered cash is to aid in setting up Bunchy, a program to be used for charities to raise money using the popular social networks. Andrew Brackin will also receive assistance and authority from other participating tech companies such as SiIlicon Valley and San Francisco businessmen.

Andrew Brackin

The British teen has already an experience and records of helping setting up companies. Before receiving the offer from the Theil Fellowship, Andrew Brackin co-founded a marketplace which now have 100,000 users and designers. He also helped run the Tomorrow’s Web – an event for technologists.

The Theil Fellowship was started in 2011 headed by tech tycoon Peter Theil, also a co-founder of the online transaction site PayPal. This fellowship’s aim is to help young people acquire high or alternative education.

“When we created the fellowship more than two years ago, our intention was to help a small number of creative people learn and accomplish more than they might have otherwise. ” Peter Theil said.

2 comments to PayPal Co-founder Peter Theil Offered $100,000 to British Teen to Help Create a Company

  • Amazing gesture from the paypal company! It is an example that could be followed by other major big companies! These gestures will be very significant to change lifes and create new ideas!

  • PayPal is investing for the future, it’s pennies it will cost it to involve a future employees in this way. The big football clubs are already doing this and provides education, schools, universities, etc. to promising youngsters in football.