Contrary Launches Gap Year Fund, Giving Students $100,000 to Start Companies Instead of Taking Classes

SAN FRANCISCO, July 14, 2020 /PRNewswire/ -- Contrary, a venture fund backed by the founders of Tesla, Reddit, Facebook, and other iconic companies, has announced a new program funding students who are taking gap years from college, encouraging them to build companies instead.

Over the past few decades, many of the most important technology companies — from Google to Snapchat to StitchFix — were spun out of universities. That's why Contrary operates a powerful network of over 100 scouts across the top 35 research universities and a sophisticated technology platform to identify the next Zuckerberg.

However, COVID-19 has significantly impacted young founders and their ability to raise capital, find collaborators, and access mentorship. Most universities have become partially or completely remote for the next year, which strips away access to many physical resources.

Announced today, Contrary is launching its gap year program, investing in 5 teams up to $100,000 each in students who choose to build rather than pay high prices for online classes.

Teams with at least one member enrolled in an undergraduate or graduate program can apply at contrarycap.com/gap-year. Applicants must take at least one year off of school to work full-time on a startup.

Furthermore, in light of recent policy that may force thousands of international students to leave the US, Contrary remains interested in funding international student founders, as the majority of unicorns have at least one immigrant co-founder.

Contrary's gap year investment program will support members like any other portfolio company: with connections to operators who have scaled companies from zero to thousands of employees, a diverse network of potential hires, and tactical advice from Contrary's investment team.

"It's no coincidence that Microsoft and Facebook were started during Reading Period at Harvard, when students have more free time," said Eric Tarczynski, Founding Managing Partner of Contrary. "By giving entrepreneurial students the ability to focus on building businesses for several months, we think that exciting projects will emerge, and will be a compelling alternative for them to spend a year or more of their time." 

For more information, visit contrarycap.com, read the company's blog, or follow along on Twitter and LinkedIn. 

About Contrary:

Founded in 2016, Contrary is a venture fund that supports the world's top early-career talent. Backed by founders of Tesla, Reddit, Facebook, and others, Contrary identifies top engineers, designers, and product minds emerging from universities, connects them with a close-knit, career-long support community, and invests in companies they start or join. 

SOURCE Contrary

Related Links

https://contrarycap.com