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Peter Thiel announces Breakout Labs to energize innovation
Date:10/26/2011

out Labs funding set it apart from traditional research dollars.

  • The work it supports is entrepreneurial and fully independent from formal research institutions.
  • The work is at an early stage, possibly even before proof of concept, but success would be a critical step toward a potential breakthrough that could dramatically change the world.
  • The work will support the acceleration of innovation through revenue-sharing and open access publication.

Breakout Labs funding is not a typical foundation grant. Instead, successful projects will help support the next generation of scientific exploration by assigning a modest portion of resulting revenue back to Breakout Labs.

"Over just the last few years, incredibly powerful research tools have become available at prices that researchers can afford outside of a university or government-supported setting," said Clarium managing director and Breakout Labs cofounder Ajay Royan. "We're on the cusp of a tremendous explosion in entrepreneurial science, and Breakout Labs is going to enable more and more independent visionaries to change the world."

Projects from across the spectrum of scientific disciplines will be considered for support, and funding will typically range from $50,000 to $350,000, but may vary substantially. In the interest of accelerating scientific development, support from Breakout Labs requires investigators to maximize the dissemination of the resulting innovations, either through open access publication or intellectual property development.

The Foundation has begun evaluating proposals and expects to announce the first awards as early as December 2011.


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Contact: Ross Gillfillan
ross@torchcommunications.com
415-599-4403
The Thiel Foundation
Source:Eurekalert

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