Elizabeth Holmes, Visionary Silicon Valley Entrepreneur and Passionate Advocate for Female Engagement of STEM Curricula to Receive 2015 Horatio Alger Award
Horatio Alger Association names 12 exceptional leaders, each of whom has overcome significant adversities in achieving personal and professional success, to its Member Class of 2015; Ms. Holmes is the youngest to ever be selected.
WASHINGTON, Dec. 4, 2014 /PRNewswire/ -- Horatio Alger Association of Distinguished Americans, Inc., a nonprofit educational organization honoring the achievements of outstanding individuals and encouraging youth to pursue their dreams through higher education, today announced that Elizabeth Holmes, founder and CEO, Theranos, has been selected for membership in the prestigious organization. Ms. Holmes joins eleven other accomplished business and civic leaders from across North America in receiving this honor in 2015 and she is the youngest individual in the Association's history to ever receive this award. Since its establishment in 1947, the Horatio Alger Award is annually bestowed upon renowned leaders who have succeeded despite facing adversity, and who are committed to mentorship, philanthropy and higher education.
Born in Washington, D.C., Ms. Holmes had dreams of working in healthcare – but, due to her extreme fear of needles, she knew that she could not become a doctor. She would later describe this fear as one of her motivations for launching her business. Ms. Holmes learned Mandarin Chinese and visited China during her teenage years before enrolling at Stanford University. Her knowledge of Mandarin Chinese helped her gain an internship at the Genome Institute of Singapore, which was in the process of developing new methods to detect the SARS virus in blood and nasal swabs. Ms. Holmes had been thinking about better ways to conduct laboratory tests throughout her work in the Engineering school at Stanford. She wrote a patent application in 2003, at the age of 19, and decided to leave school so that she could pursue her vision that could ultimately change the country's healthcare system.
Ms. Holmes used the money her parents had saved for her education to establish Real-Time Cures, which she later renamed Theranos, an amalgam of "therapy" and "diagnosis." She built the company around her patents and her belief that access to health information is a basic human right. Theranos' breakthrough advancements have made it possible to quickly process a full range of laboratory tests from a few drops of blood at unprecedented low costs. These advancements are now directly accessible to people and their physicians through Theranos Wellness Centers opening nationwide. Today, with more than 700 employees, the company is valued at more than $9 billion. Ms. Holmes has retained control of more than 50 percent of Theranos' equity and currently has 23 U.S. patents and 84 non-U.S. patents to her name. She is the youngest self-made woman billionaire on the Forbes 400 list.
"Elizabeth Holmes' distinctive background reflects her courage to travel a different path to success, especially at a young age," said Tony Novelly, president and CEO, Horatio Alger Association and 2000 Horatio Alger Award recipient. "She is both a visionary and an exceptional leader. We are proud to induct someone of Ms. Holmes' caliber not only to honor her professional accomplishments but also, how her work has helped change our world for the better. She provides our Scholars – past, present and future – with an exceptional role model and we warmly welcome her to the Association."
Ms. Holmes is a powerful advocate for the advancement of science, technology, engineering and math (STEM) curricula and aims to help young people excel in these fields. She has a particular focus on the engagement of young girls in science, technology and business and encourages young women to leverage these academic areas in seeking out leadership opportunities. Her voice on this important issue is gaining increased influence with an appearance yesterday at Fortune's Most Powerful Women Next Gen conference where she served as a keynote speaker.
In accepting this honor, Ms. Holmes commented, "I am deeply grateful and humbled to have been chosen for induction into Horatio Alger Association, with such an exceptional group of individuals. The importance of this organization's mission cannot be overstated and I am excited to support its ongoing efforts to empower students who have overcome significant adversity in their personal pursuit of the American dream."
In addition to presenting its annual award, Horatio Alger Association administers one of the largest, privately-funded scholarship programs for students in the United States and Canada. These students, like the Members, have faced significant adversities, but have persevered and are determined to overcome life's challenges. Scholarships are wholly funded through private donations from Members, Life Partners and friends. Since 1984, the Association has provided more than $100 million to promising students in need.
Ms. Holmes and the Member Class of 2015 will be officially welcomed into the organization during the 68th Annual Horatio Alger Award Induction Ceremonies in Washington, D.C. April 9-11, 2015. In addition to recognizing these tremendous leaders, Horatio Alger Association will also honor its 2015 National Scholarship recipients, affording both groups the opportunity to meet and learn from one another.
For more information about Horatio Alger Association and a full list of its Class of 2015, please visit www.horatioalger.org.
About Horatio Alger Association of Distinguished Americans:
Founded in 1947, the Horatio Alger Association of Distinguished Americans, Inc., fulfills its mission of honoring the achievements of outstanding individuals who have succeeded in spite of adversity and of encouraging young people to pursue their dreams through higher education. Horatio Alger Association supports students through annual undergraduate and graduate need-based scholarships and mentoring programs across the United States and Canada. Since 1984, the Association has awarded more than $100 million in college scholarships to deserving young people. For more information, please visit www.horatioalger.org.
CONTACT:
Meg Kane
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SOURCE Horatio Alger Association of Distinguished Americans, Inc.
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