INTC Intel Corporation

Intel Corp. plans to stop supporting the Science Talent Search, a venerable 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, known for supplying the microprocessor chips used in most computers, has long prided itself for its role in math 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 Science Talent Search is overseen by the Society for Science and the Public, a nonprofit organization founded in 1921. 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.

A spokesman for the society said it is beginning a search for a new sponsor. "We hope to have that partner in place as soon as possible," he said.

Intel put about $6 million a year into supporting the contest, the 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 12:55 ET (16:55 GMT)

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