To date, STEAM Sports Foundation has awarded scholarships ranging from $5,000 - $10,000 to deserving underrepresented female college and technical school students throughout the U.S.. Grants include those with disabilities as well. The foundation receives several hundred inquiries and applications per year before determining a group of finalists from which selections are made. The selection committee focuses primarily on rising juniors and seniors.

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 Scholarship recipients all must demonstrate interest and activity toward an engineering career in motorsports or the automotive industry. Preferred majors include mechanical engineering, electrical engineering, computer science, data analytics, physics and math. Internships and interest in motorsports and technical innovations that include development of electric and autonomous vehicles are given priority.