According to The Boston Consulting Group, the United States is the leading economic power in the world and the sixth in terms of the digital economy. The quality of a country’s digital environment helps to support strong economic growth. If the United States wishes to maintain its place, it will need to continue developing its digital economy.
The future economic growth of the United States is specifically related to its innovative capacity and to the digital transformation of its businesses. The shortage of competent developers delays the transformation of these projects, which may also become the sources of other jobs.
On top of this, studies in the United States are very expensive and do not allow everyone to receive an education. 42 is a high quality, computer-programming training program, which provides its curriculum completely free-of-charge to its students.
The United States has always been the country of entrepreneurship and innovation. Thanks to the prevailing open-minded spirit, Americans allow for differing solutions and for innovative thought, notably in the field of education.
- According to the U.S. Department of Education, approximately 40 million Americans have contracted a student loan for an average of $30,000. This is due to increases in tuition costs (up over 440% in 25 years, which is an increase of more than 1,225% since 1978).
- According to Forbes magazine, almost three quarters of all graduates have had to contract a loan. The increasing levels of student debt burdens these students financially, and this has adverse effects on their credit capabilities. Furthermore, this rising student debt can have negative consequences on overall economic consumption rates, housing finances, while also delaying the creation and installation of new families.
- According to the Organization for Economic Co-operation and Development, merely 10% of the students within the 146 best universities come from the lower-middle class.
- According to a report in the Hamilton project, children of well-off families are disproportionately likely to stay well-off and children of poor families are very likely to remain poor. For example, a child born to parents with income in the lowest quintile has a likelihood that is more than 10 times greater of ending up in the lowest quintile than ending in the highest as an adult (43 percent versus 4 percent). And, a child born to parents in the highest quintile rather than in the lowest (40 percent versus 8 percent). As expressed within this report, “These results run counter to the historic vision of the United States as a land of equal opportunity.”
We find it regrettable that companies are unable to recruit the collaborators that they need in order to undertake this astounding transformation in which their own future, and those of young adults, is at stake.
The Startup Institute revealed in a survey (2014) that 79% of start-ups are struggling to find the right talent, with 41% of start-ups citing this as a reason for failure.
We also find it regrettable that in such a creative country, the educational system promotes differences and deprives our companies of the human resources adapted to the urgency of creation and innovation.
At 42, students prepare for diverse workplace settings; the projects, curriculum and overall experience of the school trains young adults and thus 42 equips digital companies in every sense and scale: young innovative companies, big groups, or perhaps start-ups seeking this talent from our pool of innovators.
42 grants to all of its students the right of full-ownership for all code created within the Paris or Silicon Valley training facilities during project work (as well as any and all code written for side projects); whether this code had been developed before or after starting the program, the code’s creator will always maintain full-ownership.
On a broad scale, 42’s mission is to offer to young adults a better chance at succeeding as we strive to uncover the talents of this generation in the field of programming. Traditional selection criteria often prevent too many of today’s young adults either from reaching their higher education goals or from attaining a professional skill set. At 42, neither financial ability nor educational degree are weighed in the selection process; the fact that students are selected solely on the basis of their talent and motivation is indicative of the core philosophy of this uniquely innovative, educational approach.
42 is open to anyone who is between the ages of 18 and 30 whether they possess an academic degree or not. The training is absolutely free-of-charge; in this non-profit organization, no registration and no tuition fees will be required before, during or even after attending 42.
Training takes place over a period of 3 to 5 years.
42 offers its students the very best in terms of IT resources in order to make it possible for them to work in the best conditions regardless of the personal resources available to them elsewhere.
Ecole 42 USA (“42 Silicon Valley”) is a Non-Profit Organization that admits students of any gender, religion, race, color and national or ethnic origin to all the rights, privileges, programs and activities generally accorded or made available to students at 42 Silicon Valley. At any time that 42 Silicon Valley operates a scholarship or loan program, 42 Silicon Valley shall offer such scholarships or loans on a racially nondiscriminatory basis.
Ecole 42 and Ecole 42 USA were co-founded by Xavier Niel, who is funding the two campuses and their academic programs by means of charitable donations from his personal fortune.