INTC Intel Corporation

By Don Clark 

Intel Corp. plans to stop supporting the Science Talent Search, a science research competition for high school seniors that the chip maker has sponsored since 1998.

The company said it would fund contests in 2016 and 2017, discontinuing its financial support after that year.

Gail Dundas, an Intel spokeswoman, declined to provide a reason for the company's decision. But she noted that its support will have extended 20 years, "which is a long time for a sponsorship."

Intel, which supplies microprocessor chips used in most computers, has long prided itself for its role in mathematics and science education.

Under Brian Krzanich, who became chief executive in May 2013, Intel has stepped up its support of events for tinkerers dubbed "makers" as part of a strategy to place more technology into wearable products and other everyday gadgets.

The Society for Science and the Public, the nonprofit organization that oversees the Talent Search competition, on Wednesday said it was looking for a replacement for Intel. It is seeking an annual minimum contribution of $6 million and a commitment to continue sponsorship for at least five years.

Intel's "corporate priorities shifted," said Maya Ajmera, the society's president and chief executive. "It's time to find a new sponsor."

The event began in 1942 and was first sponsored by Westinghouse Electric Corp. The society says the contest has funneled more than $13 million in scholarships to prize winners, which include eight Nobel laureates.

Some 1,800 applications from students describing scientific projects are culled in stages down to 40 finalists, who are invited to go to Washington, D.C. for an interview.

Finalists receive $7,500, Ms. Ajmera said. In the past year, three students received the top prize of $150,000 each, she said.

Intel put about $6 million a year into supporting the contest, contributions totaling more than $50 million since it began its sponsorship, a society spokesman said.

Intel's decision was reported earlier by the New York Times.

Write to Don Clark at don.clark@wsj.com

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(END) Dow Jones Newswires

September 09, 2015 16:12 ET (20:12 GMT)

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