Most students think the only way to get paid for your ideas is a job or an internship. It isn't. There are programs that will hand you real money to work on your own project, and the three below take no equity for their grants. One of them is a five-minute video application.
Here's what each one pays, who it's for and the official link to apply. Everything below comes from the programs' own sites, checked on September 17, 2026. Rules change, so read the official page before you hit submit.
The quick comparison
| Program | Money | Who it's for | The catch |
|---|---|---|---|
| Thiel Fellowship | $250,000 over two years | Age 22 or younger with no university degree | You have to leave school to accept |
| Emergent Ventures | Varies by project | Anyone 13 or older, anywhere in the world | Your idea has to be genuinely ambitious |
| 1517 Medici Project | $1,000 minimum | High school students, college students, dropouts and deep tech scientists | Has to be a passion project, not schoolwork |
1. Thiel Fellowship
- Money$250,000 over 2 years
- Equity takenNone
- DeadlineRolling, year round
This is the famous one. Peter Thiel's foundation gives $250,000 over two years to young people who want to build something instead of sitting in a classroom. The fellowship says it takes no equity in your company. On top of the money you get mentorship from founders, investors and scientists plus access to the fellowship's network and alumni.
The rules are simple. You need to be 22 or younger and you can't already hold a university degree. You can apply while you're enrolled, but if you're selected you'll need to drop out to accept. Fellows can be based anywhere in the world, and they review people as individuals, so you don't need a cofounder.
You don't need an incorporated company or a finished product either. What they want to see is real progress toward a concrete vision. So apply when you have something to show, not just a pitch.
Apply to the Thiel Fellowship or read the official FAQ first.
2. Emergent Ventures
- MoneyVaries by project
- Minimum age13
- Open toAnyone, worldwide
Emergent Ventures is a fellowship and grant program run by economist Tyler Cowen at the Mercatus Center at George Mason University. It launched in 2018 to back people with big "zero to one" ideas for improving society. It's deliberately low on bureaucracy: a short written application, no committees and no long forms.
The best part for students is how open it is. The only stated requirement is that you're 13 or older. You don't need to drop out, you don't need a company and you don't need to live in the US. There are dedicated tracks for India, Africa, the Caribbean and Ukraine that you pick from a dropdown on the application.
There is no published grant size because awards are sized to the project. Past winners have used the money for everything from research and travel to taking time off to build. Be specific about what you'd do with the money and why you're the person to do it.
Apply to Emergent Ventures or read the program page.
3. 1517 Fund and the Medici Project
- Medici grant$1,000 minimum
- Strings attachedNone
- Response timeAbout 2 weeks
1517 Fund was started in 2015 by Danielle Strachman and Michael Gibson, who helped build the Thiel Fellowship. Their whole thesis is backing dropouts, students and "sci-fi scientists" at the very start. The name comes from the year Martin Luther nailed his theses to the church door. They see the college diploma as today's overpriced piece of paper.
There are two ways in, and most students should start with the first:
- The Medici Project. A grant of at least $1,000 for a passion project in science, tech, math or the arts. It can't be for school credit, grades or admissions. 1517 describes it as no strings attached: they don't own your project, your IP or any future equity. It's focused on North America, though international applicants are welcome to reach out.
- Venture investment. If you're already building a company, 1517 writes angel checks from $50,000 and leads pre-seed rounds up to $1,000,000. This part is a normal equity investment. Their portfolio includes Figma, Loom and Luminar.
Applying for a Medici grant is refreshingly simple. Record a five-minute Loom video covering who you are, how you got into your topic and how the grant would move your project forward. Then email it to a 1517 team member (the format is [email protected]). They say they respond within about two weeks if your project fits what they back.
See the Medici Project or pitch your company at 1517fund.com.
Which one should you go for?
- You have a side project and want a first yes: 1517's Medici Project. Smallest ask and fastest application.
- You have a big idea but want to stay in school: Emergent Ventures. No age ceiling, no dropout requirement and open worldwide.
- You're 22 or under and ready to go all in: the Thiel Fellowship. Biggest check and biggest commitment.
Nothing stops you from applying to more than one. A small grant and a project with real progress make the bigger applications a lot stronger.
A few tips before you apply
- Show what you've already built. All three care more about progress than polish.
- Write like a person. Short, specific and honest beats buzzwords every time.
- Say exactly what the money unlocks: the equipment, the months of runway or the trip.
- Apply early. Two of the three are rolling, so there's no reason to wait for a deadline.
Frequently asked questions
Do I have to drop out to get the Thiel Fellowship?
You can apply while enrolled, but the fellowship's FAQ says you need to leave school to accept it. It is open to people aged 22 or younger who do not already hold a university degree.
Do any of these programs take equity?
The Thiel Fellowship says it does not take equity in your company. Emergent Ventures awards are grants. 1517's Medici Project grant is described as no strings attached, with no claim on your project, IP or future equity. 1517 Fund's separate venture investments are normal equity investments.
Which one should a current college student apply to first?
Start with the smallest ask. A 1517 Medici Project grant is $1,000 and the application is a five-minute video. Emergent Ventures is a short written application with no age ceiling and a minimum age of 13. The Thiel Fellowship is the biggest commitment because accepting it means leaving school.
Can international students apply?
Thiel Fellows can be based anywhere in the world, and Emergent Ventures funds people globally with dedicated tracks for India, Africa, the Caribbean and Ukraine. 1517's Medici Project focuses on North America, though it says international applicants are welcome to reach out.