The tech company will no longer sponsor the high school science talent competition.
Recently it was discovered Intel will no longer sponsor the Science Talent Search. The Science Talent Search is a science competition held for high schoolers. The competition is very prominent and run by the Society for Science and the Public.
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A majority of the members proving to be pioneers in their respective fields. When news broke out about Intel’s’ abandonment. The entire scientific community in Silicon Valley was disappointed.
The former Craig Barrett CEO of Intel was also saddened by the news. Intel will stop sponsoring the competition from 2017. NYTimes first reported about the news.
Intel had been in discussions with the Society for Science and the Public for the last 18 months. The society and Intel had been discussing whether Intel would continue its sponsorship.
Now it seems the partnership will come to an end. The society is now looking for new sponsors. The new sponsors will have to commit to at least $6 million a year in sponsorship. The sponsorship agreement lasts for 5 years.
Intel had been sponsoring the competition since 1998. The sponsorship began under the leadership of Barrett the former CEO of Intel. Intel took over the sponsorship from Westinghouse.
The Science Talent Search program attracted thousands of high schoolers in the US every year. The students competed in different lines for prizes. The top 40 finalists were taken on a trip to Washington D.C.
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The prizes ranged from $75,000 to $150,000 for the winners in the Science Talent Search. By 2017 Intel will have sponsored the program for nearly 20 years. The duration is a relatively lengthy period for corporate sponsorships. The current CEO of Intel Brian Krzanich did not provide any comment on the issue.