I’m beginning to think that everyone believes that incubators hold the secret to entrepreneurial success. When you look at all the incubators that have launched in the past few years, you would certainly get that impression. Some highly respected people have launched such programs as yCombinator, TechStars, Plug and Play, and IdeaLab, to name just a few. Their goal? To claim the next great startup, whether it be an Internet company, an energy company, or a retail play.

The competition has gotten so intense that some like Peter Thiel, Paypal co-founder and hedge fund manager, have decided it’s time to go after people under the age of 20. His “20 Under 20” program awards up to $100,000 to 20 people under the age of 20 who are willing to pursue a startup that leverages science and technology instead of enrolling in a university. He points to successful entrepreneurs who either never attended college or dropped out such as Elon Musk (PayPal, SpaceX, Tesla Motors, etc.). Thiel’s intent is to hand select very high potential individuals, perhaps from very prestigious universities, and get them to leave to launch their ventures. This approach is not much different from pro teams drafting top athletes out of college. Some people mourn the lost education while others say optimistically that they can always go back to school, but when will another opportunity like this come along? Actually, I agree with this thinking to a point. If you have a business idea that is really a killer idea and the time to launch is now, then I say go for it. Today, it’s about lifelong learning and even if you do have a college degree, the learning never stops.