The F1 in Schools competition pits students from across the world to see who can create a miniature Formula 1 that goes the fastest.
The team that wins the top prize will receive scholarships to City University, an engineering school in London.
Not all of the contestants are from overseas. With Austin home to one of the best F1 tracks in the world, it is only natural that some local students are participating.
"We decided to go with a Texan theme and western, kind of play into the stereotype a little bit," said Akins High School student Hannah Holder of the car she and her team built. Holder and the rest of her team want to be engineers so this was the perfect competition for them.
"It's been hard to get everything together, but it's been fun," Holder said. "I mean if it was easy, everyone would do it."
Founder Andrew Denford said the competition is all about fun and education.
"They learn so many things without actually knowing they're learning it," Denford said. "Obviously the math element, the science element and looking at the aerodynamics."
The winners of the F1 in Schools World Finals will be announced Thursday afternoon. While the top prize wins a full ride to City University in London, the other students will receive a trophy and VIP passes to the F1 race in Austin this weekend.