The Aston Martin Formula One Team (AMF1) and Motorsport Culture Collective (MCC) hosted an evening of panel discussions on the commercial side of racing at Rice University this month. Students from Rice as well as Texas Southern University piled into Kraft Hall’s auditorium to listen to panelists from AMF1 personnel and partners such as Valvoline and were treated to a networking event in the courtyard outside Rice’s Valhalla with food provided by Trill Burger.
The event was part of a conversation series by AMF1 and MCC at leading universities around the world designed to give students an inside perspective on the business and engineering in Formula One racing. The goal of the series is to inform students about STEM-related and other work opportunities in motorsports, while giving AMF1 and its partners a chance to create a sustainable strategy and long-term impact for underrepresented minority groups through AMF1’s Mark A Mark program.
The team traveled to Texas to also launch AMF1’s Generation 3 program in partnership with Aramco. Before the panel event, the team’s race car zipped around Houston and showcased its mechanics at the Ion Oct. 15 with a demo run by development driver and Houstonian Jak Crawford. Guests at the event were able to listen to and network with innovators as well as try out a racing simulator. Crawford accompanied the vehicle the next day on Rice’s campus, where students were able to take photos and ask questions.
Development and stunt driver Jessica Hawkins said there’s been significant growth in female participation in motorsports — not only on the track but in the stands as well — thanks to the efforts of AMF1. The brand has F1 Academy, a platform for young female drivers to hone their skills and gain crucial experience in order to help them develop and progress on their climb up the motorsports ladder.
Kate Dalton, who runs marketing for AMF1, explained how racing relies on a sponsorship model — 70% of a team’s revenue comes from sponsorships — with merchandise sales and winnings making up the rest. In order to sell merchandise, the brand has to “land” with people, she said. F1 and Aston Martin as brands have a long-standing perception, so Dalton’s role is to take all the positives of the brand and make it accessible for everyone. She’s found that female fans, a newer target market in the industry, care more about the community of a brand than the established fans do.
Sophie Ackland, senior human resources leader at AMF1, discussed how diversity represents both the teams and the customers during one of the panel discussions. F1 is a global sport with global fans and is becoming more popular with new groups, so the teams want to represent the people interested in the sport, she said.
Students are encouraged to check out AMF1’s postings for career opportunities for undergraduates who want to get work experience internationally.
This event was sponsored by Rice’s Center for Career Development and Society of Women Engineers.