Peter Thiel announced Wednesday the appointment of 24 Thiel Fellows.

“The Fellows are a tremendous group of young people who are going to advance the frontiers of knowledge, shake up staid industries, and change the world,” said Thiel in a statement. “Tomorrow will not take care of itself. In order to solve vexing problems and increase the quality of life for people everywhere, the world’s economy needs continuous scientific and technical innovation from outstanding creative minds. I’m looking forward to helping the Fellows become the next generation of tech visionaries.”

The Fellows will pursue innovative scientific and technical projects, learn entrepreneurship, and begin to build the technology companies of tomorrow. During their two-year tenure, each Fellow will receive $100,000 from the Thiel Foundation as well as mentorship from the Foundation’s network of tech entrepreneurs and innovators. The project areas for this class of fellows include biotech, career development, economics and finance, education, energy, information technology, mobility, robotics, and space.

More than 400 people younger than 20 applied to be Fellows. Information about applications for the next round of fellows will be available at 20under20.org in October.