Tonight many of Silicon Valley’s best and brightest have come together for the TechFellow Awards, a new startup investment program that we have created in partnership with Founders Fund. We’ll be annoucing the winners shortly, and are live streaming the event below, compliments of Ustream.

http://www.ustream.tv/flash/live/781960

Here are more details about the program:

At least twelve fellows will be granted $25,000 each tonight to invest in an early stage startup of their choice. Founders Fund will invest an additional $25,000 alongside those investments and request an additional right to invest another $250,000 when the company raises its next round of financing. In all, Founders Fund expects to devote around $3.6 million to the program.