Formula 1 has confirmed the extension of its engineering scholarship program until 2025 as part of its drive to increase diversity.
Formula 1 non-executive chairman Chase Carey has donated $1m to launch the program in 2021, which has so far successfully supported 10 students in their engineering degrees at UK universities and Italian.
Under the program, each student’s tuition and living expenses are covered for the duration of their degree.
And this will continue until 2025 following the extension announced by Formula 1, allowing 10 additional students per year to receive the same support.
The announcement is part of Formula 1’s efforts to make the series a more diverse landscape, with the series also opening apprenticeship and internship positions in various departments, seeking to build on mechanical engineering students who have already taken advantage of these opportunities.
Formula 1 has collaborated with the Black Collective of Media in Sport (BCOMS) and The Blair Project as part of their initiatives.
In a statement, Formula 1 President and CEO Stefano Domenicali said: “We are committed to increasing diversity and opportunity within this incredible sport and I am pleased to confirm that we will extend our program for academics until 2025, providing a fantastic opportunity for some talented students to start their journey with Formula 1.
“We want to continue to ensure that talent from underrepresented groups has meaningful opportunities, with the top ten scholars already beginning their studies following Chase’s incredible donation to fund scholars in their first year.
“We want to continue and build on the foundations of the program in the years to come.”
Formula 1 is approaching its return to the track with pre-season testing fast approaching.
The unofficial opening event will take place at Circuit Barcelona-Catalonia between February 23-25, while the official pre-season test then takes place in Bahrain from March 10-12.
The season then kicks off in Bahrain with the Bahrain Grand Prix on March 20.
There is of course a lot of intrigue surrounding the upcoming season, thanks to the major rules overhaul, which will see the 2022 challengers look very different to their predecessors, with the potential for a shake-up in the pecking order.