The Intel Science Talent Search, one of the nation’s most prestigious competitions for science-savvy high school students in the United States, is losing its title sponsor, The New York Times (NYT) reports. Intel has announced that it will no longer sponsor the program, and the nonprofit that runs the competition, the Society for Science & the Public in Washington, D.C., is looking for a new sponsor to pick up the $6 million annual tab starting in 2017.
The program, meant to “inspire innovators of tomorrow,” targets science, math, engineering, and technology students in their last year of high school. It has drawn in thousands of hopeful applicants since it began in 1942. Many of the winners (who receive prize money ranging from $35,000 to $150,000) have excelled as university professors, award winning scientists, and even Nobel laureates.
It’s unlikely that Intel cut the competition for financial reasons, because it cost only a fraction of a percent of the company’s total revenue last year, NYT reports. Organizers are looking for a new sponsor willing to commit to at least 5 years of sponsorship.