A new all-female racing series, aimed at encouraging women racers to get into Formula One, will launch in May 2019.
The W Series has the support of several key names within the sport, including former grand prix driver David Coulthard and top car designer Adrian Newey.
"In order to be a successful racing driver, you have to be skilled, determined, competitive, brave and physically fit, but you don't have to possess the kind of super-powerful strength levels that some sports require. You also don't have to be a man," Coulthard said in a W Series statement Wednesday.
No woman has competed in a Formula One race since 1976 but organizers of the W Series hope to provide a platform for them to develop their skills.
Organizers said they aimed to stage six 30 minute races at top circuits in Europe, most of which were past Formula One venues, with 1.8 liter Formula Three cars.
It will offer a prize fund of $1.5 million and free entry for 18-20 competitors who will be selected purely on merit after tests and appraisals.
The overall winner will collect $500,000, with prize money down to 18th place.
Coulthard pointed to the issues facing talented female drivers within the sport, suggesting that women tended to reach a "glass ceiling" at Formula Three level, often due to a lack of funding, and needed help.