The origins of Formula Student date back to 1981, when the Society of Automotive Engineers (SAE) in the United States launched the Formula SAE competition. The main purpose of this competition is to encourage university students to design and develop small, single-seater racing cars as if they were working for a real automotive company. Participants are not only engaged in engineering design but also deal with cost analysis, business planning, team organization, and project management. In this way, students gain a holistic experience, preparing them both technically and entrepreneurially to work like real engineers or managers.​