Four City law firms will invite a group of teenagers to their London offices to deliver a fictional bid for a new Formula 1 world championship location
The Next Grand Prix (TNGP) aims to make the sport more diverse, as well as more accessible to young people from lower socio-economic backgrounds and underrepresented groups. This year’s TNGP includes ten workshops for students aged 16 to 18, with four City law firms taking part: A&O Shearman, Clifford Chance, Hogan Lovells and Travers Smith.
Launched in 2022 in partnership with the charity Social Mobility Business Partnership (SMBP), the scheme seeks to empower young people to assume leadership roles and develop the skills for a career in business.
Each student will be given a leadership role within a team, such as chief financial officer, general counsel, head of marketing or head of sustainability. The teams will need to evaluate the risks and rewards associated with hosting a Formula 1 race, and convince a panel of judges why their bid should be chosen.
The winning teams from each workshop will progress to the Championship Final on 9 August at F1’s media and technology centre in Biggin Hill.
Since TNGP’s launch, 281 students have pitched their next Grand Prix. Of those surveyed this year, all agreed they’ve developed key business skills such as critical thinking, teamwork and performing under pressure, while 98% agreed that the workshops had opened their eyes to different jobs within the business world.
Placements were offered to young people who attend a state-funded, non-fee-paying school or college and meet certain social mobility criteria.
Alex Edmiston, lead counsel, commercial at Formula 1 said: ‘The workshop is designed to be both challenging and fun for students, whilst equipping them with key transferrable skills that they can carry with them to higher education and in their future careers.
‘The highlight of each workshop is invariably seeing countless students overcome their nerves and transform into c-suite execs pitching their bid. We’re grateful to all four City law firms playing host to TNGP this year, as well as to SMBP for all their support with the programme.’
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