Bangalore: There was a controversy recently when Peter Thiel, a co-founder of PayPal and an iconic investor, had announced that he would be giving away $100,000 over two years to 24 youngsters, to leave and to pursue entrepreneurship on full time basis. This program had a mission, to make people realize that not every adult needs college education to run a business. Peter Thiel thinks that rather than spending three or more years in educating oneself, creative minds must utilize their skills and directly get into entrepreneurship and make difference in the world. He picked few college going students and provided them with funds, now it has reached the halfway point and it is time to know what few among those 24 entrepreneurs are doing with the funds and the status of their business, as reported by inc.com.

Gary Kurek

Revenues: Nothing yet

What he thinks: "I realized that I wanted to be spending 90% of my time building technology and great products, and then 10% of my time with more bureaucratic issues, vs. the other way around."

He initially worked on his pre-existing company, wheelchair maker GET Mobility Solutions. Kurek was often stuck down with regulatory issues. He is looking forward to launch a new company soon which will involve hardware, robotics and software systems.

Dale Stephens

Revenues: 6 figure amount form Penguin books

What he thinks: "You must know how to transition quickly from a learning-focused mode to a doing-focused mode. There's a much faster cycle to conform to."

Stephens smartly founded an alternative educational site and named it UnCollege.org and he has also written a book called ‘Hacking Your Education’ which would be published by Penguin Books in 2013.