CNBC is partnering with billionaire investor and Silicon Valley legend Peter Thiel as he searches for the next Edison, Jobs or Zuckerberg.

In a two-part special, “20 Under 20: Transforming Tomorrow,” CNBC follows 20 young inventors, innovators and entrepreneurs as they vie for a $100,000 Thiel Fellowship. But there’s a catch, Just like Edison and Jobs and Zuckerberg, the Thiel Fellowship winner will need to walk away from college.

“The world’s hardest problems aren’t going to solve themselves. If you have a great idea, the right time to work on it isn’t four years off—it’s now,” said Thiel. “We’re looking forward to giving a new class of Thiel Fellows the time, mentorship, and support to bring their most innovative dreams to life.”

CNBC’s “20 Under 20: Transforming Tomorrow,” debuting August 13 at 10pmET, also features Silicon Valley stars Sean Parker and Elon Musk.