Formula Hybrid+Electric

What Formula Hybrid+Electric does

Formula Hybrid+Electric is a non-profit collegiate engineering competition operated by Dartmouth College's Thayer School of Engineering and integrated into the SAE Collegiate Design Series. Founded in 2006, the program challenges university student teams to design, build, and race hybrid and electric vehicles at the New Hampshire Motor Speedway in Loudon, New Hampshire. A dedicated Electric Vehicle Class was added in 2012 alongside the original hybrid category, broadening the technical scope of the event.

The competition's core product is the annual on-track event itself, supplemented by documentation, design reviews, and a Virtual Racing Challenge delivered in partnership with iRacing and McLaren Applied. Approximately 20 or more university teams participate each year, including entrants from the United States, Canada, and India. The business model is funded through a combination of team registration fees and sponsorship contributions from a relatively small set of recurring institutional and corporate backers, including IEEE, SAE International, NHMS, and iRacing. Operational leadership rests with Competition Director Mike Chapman, who succeeded founder Doug Fraser in 2019.

Because it is hosted and underwritten by Dartmouth's Thayer School rather than operated as an independent commercial entity, the program is structurally insulated from venture-style scaling pressures and is evaluated on educational impact, sponsor retention, and team growth rather than revenue growth.

Name

Formula Hybrid+Electric

Legal name

Formula Hybrid+Electric

Website

https://formula-hybrid.org

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Engineering Education Competition

NAICS

Spectator Sports (71121)

SIC

Services-Racing, Including Track Operation (7948)

akta.pro primary industry

Motorsports Series & Championships (Sanctioned Racing Calendars) (MPAKAGAA)

akta.pro secondary industries

Motorsports Events (F1, NASCAR, Rally, Moto) (MPAGAMAD), Motorsports Tracks & Racing Facilities (MPAKAEAC), Motorsports & Racing Experiences (THAJAFAF)

Keywords

• Hybrid vehicle engineering
• Student motorsport competition
• Automotive drivetrain innovation
• Engineering education program
• Formula racing series

Headquarters

HQ city

Hanover

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Others

Revenue model

1. Competition Registration Fees: University teams pay registration fees through SAE International to participate in the Formula Hybrid+Electric competition. Fees are collected at the time of registration.
2. Sponsorship Revenue: Corporate sponsors at various tiers (Platinum, Gold, Silver, Bronze, Chrome) provide financial and in-kind support in exchange for recruitment access to engineering talent and brand visibility at the competition.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Formula Hybrid+Electric organizes and runs an annual interdisciplinary design and engineering competition in which university student teams design, build, and race formula-style hybrid or electric-only racecars judged on design, project management, acceleration, autocross, and endurance events at New Hampshire Motor Speedway. The program provides companion resources such as team mentorship, technical documentation, a virtual racing challenge, and a support helpdesk, and is part of the SAE Collegiate Design Series.

Product overview

Formula Hybrid+Electric is an annual engineering competition organized by Dartmouth's Thayer School of Engineering since 2006. The core product is the Formula Hybrid+Electric Competition itself, where university teams design and build hybrid or electric formula-style racecars and compete in dynamic events (Acceleration, Autocross, Endurance) and static events (Design, Project Management). Supporting the competition are a Student Dashboard for team resources, Technical Documentation including rules and design specifications, an Educational Video Library with tutorials and safety videos, a Team Mentor Program connecting students with professional engineers, a Team Support Helpdesk for official communications, a Vendor Directory listing parts and software suppliers, and an annual Virtual Racing Challenge using iRacing simulation. The competition takes place at New Hampshire Motor Speedway in Loudon, NH, and is part of the SAE Collegiate Design Series.

Differentiator

Problem solved

Functional benefit

Products and services

• Formula Hybrid+Electric Competition Annual interdisciplinary design and engineering competition in which university teams design and build formula-style hybrid or electric-only racecars and compete in static events (Design, Project Management) and dynamic events (Acceleration, Autocross, Endurance) at New Hampshire Motor Speedway, with scoring on drivetrain innovation and fuel efficiency.
• Virtual Racing Challenge

Quantifiable outcome

• Over 20 teams participate annually from multiple countries
• +2 more outcomes

Named customers6 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eleven partnerships are on record, tiered flagship, core, major and minor.

• IEEE (Institute of Electrical and Electronics Engineers)flagshipStrategic or Co-development PartnerPlatinum level sponsor providing multiple society sponsorships including IEEE Future Directions, IEEE Industry Applications Society, IEEE Power Electronics Society, and IEEE Transportation Electrification Council. IEEE has been a long-standing sponsor providing Engineering the Future Awards and Excellence in EV Engineering Awards at the competition. Hosts the IEEE Formula Hybrid Forum for team support.
• Thayer School of Engineering at DartmouthcoreStrategic or Co-development PartnerFounding organization and platinum sponsor. Founded and has run Formula Hybrid since 2006. Provides organizational infrastructure, staff (Mike Chapman as Director, Micah Bachner as Program Coordinator), and competition headquarters at 15 Thayer Drive, Hanover, NH.
• SAE InternationalcoreChannel Partner/ Reseller/ DistributorPlatinum sponsor and registration partner. Formula Hybrid is part of the SAE Collegiate Design Series. Registration for teams is handled through SAE's FSAE Online platform.
• Speedway Motorsports / New Hampshire Motor SpeedwaycoreStrategic or Co-development PartnerPlatinum sponsor and venue host. NHMS provides the race track facilities in Loudon, NH for the annual competition. The venue features the road course with significant elevation changes including a 1km hill section.
• iRacingmajorGTM or Marketing PartnerGold sponsor providing the Virtual Racing Challenge simulation platform. Teams compete in iRacing simulation events using Mazda Mx5 at New Hampshire Motor Speedway track.
• MacLean-FoggmajorGTM or Marketing PartnerGold sponsor providing components and engineering expertise to student teams. Supports competition through component donations.
• Sports Car Club of America (SCCA) and SCCA New England RegionmajorGTM or Marketing PartnerGold sponsor. SCCA provides volunteer support and industry expertise including helmet rule compliance standards. SCCA assists with scrutineering and technical inspection processes.
• McLaren Applied / Motion AppliedmajorTechnology or IntegrationAdditional sponsor providing technology expertise. Motion Applied sponsors Virtual Racing Challenge with ATLAS telemetry system. McLaren has provided webinars and technical presentations for teams.
• TestEquity / Keysight TechnologiesminorGTM or Marketing PartnerBronze sponsor. Provides Test Equity Hit the Ground Running Prize and Keysight award for best prepared teams in electrical technology. Also provides educational resources and webinars for teams.
• Chelsea ClockminorGTM or Marketing PartnerChrome sponsor providing trophies with Chelsea Clock for 1st place winners in both Hybrid and Electric classes.
• The Arthur L. Irving Institute for Energy and SocietyminorGTM or Marketing PartnerChrome sponsor at Dartmouth supporting energy-focused educational initiatives including the Formula Hybrid competition.

Scale indicators3 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Formula Student: The international (primarily UK/Europe) student engineering design competition run by IMechE. Directly comparable as a student formula-style motorsport engineering competition with hybrid and electric classes.
• Formula SAE Electric: Variant of Formula SAE permitting electric powertrains, registered through the same FSAE Online platform Formula Hybrid uses. Closely comparable product offering (electric formula-style student competition), though Formula SAE Electric is a class within Formula SAE rather than a dedicated competition.
• Shell Eco-Marathon: Global student competition challenging university teams to design the most energy-efficient vehicles. Overlapping target market (university engineering students) and overlapping theme of drivetrain efficiency and fuel/energy economy, though Shell Eco-Marathon includes multiple vehicle categories beyond formula-style.
• EV Grand Prix: Student electric vehicle competition (Indiana University–Purdue University Indianapolis) where university teams build and race electric go-karts. Comparable as a student electric motorsport competition with engineering design and build components.
• Formula SAE: The parent SAE Collegiate Design Series competition for which Formula Hybrid is an event. Formula SAE (combustion-only) and Formula Hybrid+Electric share the same student engineering design competition format, registration platform, and institutional ecosystem, making it the closest direct comparable.
• SAE AutoDrive Challenge: SAE-sponsored collegiate competition where student teams develop autonomous driving technology on a real vehicle platform. Comparable as an SAE-sanctioned advanced automotive engineering competition targeting the same university engineering audience.

Emerging players

• Global Formula Racing: Dartmouth's own affiliated Formula SAE team that historically competed in both combustion and electric classes. Directly comparable as a participating student team that benefits from the Formula Hybrid ecosystem and feeds alumni into the program.

Broad incumbents

• Baja SAE: Another SAE Collegiate Design Series event where student teams design and build off-road vehicles. Shares the SAE platform, sponsor base, and university team network, but focuses on small off-road buggies rather than formula-style racecars.
• Formula E: Professional FIA-sanctioned all-electric single-seater racing series. Not a direct student-competition peer, but thematically comparable as the premier professional electric motorsport platform and a major employer of Formula Hybrid alumni.

Others

• MathWorks Automotive Student Competitions: Mathworks (MATLAB/Simulink) student competition support program providing software and resources to Formula Student, Formula SAE, EcoCAR, and other automotive engineering competitions. Comparable as a technology enabler for the same university motorsport engineering audience.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/formula_hybrid
• YouTubeyoutube.com/playlist?list=PLbuA2svvSuToBMF5pC9zpxDIO-OSs7q-d
• Facebookfacebook.com/FormulaHybrid
• LinkedInlinkedin.com/company/formula-hybrid
• Instagraminstagram.com/formulahybridcompetition

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Formula Hybrid+Electric