"There are many more women in the driver pipeline than ever before," said St. James, one of only five woman who have raced in the Indianapolis 500.
"Project Podium is designed to help young talent achieve racing and business success, but not by giving them a handout," she added. "Each applicant must demonstrate her commitment, desire and need, both in the business world and on the track."
The announcement of the new program comes on the heels of the historic victory last month by Danica Patrick, the first woman to win an IndyCar race.
For St. James, Project Podium is a natural extension of her Women in the Winner's Circle Foundation and Driver Development Program, of which Patrick is a graduate.
A total of $55,000 in scholarships is available from Project Podium. Each applicant is being reviewed by a volunteer panel of motorsports and business professionals. Recipients will be announced later this month.
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MORE TIME: Andretti Green Promotions and the Grand Prix Association of Toronto Corporation agreed to extend the closing date on the potential purchase of the Toronto race assets until May 15.
An additional 15 days was needed by the parties to meet obligations related to the completion of purchase agreements. A release said terms of the agreement will not be disclosed and neither party would offer further comment.
With the unification of the two American open-wheel series earlier this year, most of the Champ Car World Series schedule, including the Toronto race, was canceled. But the Grand Prix Association is working toward getting it on the IRL IndyCar Series schedule in 2009.
AGP, a wholly owned subsidiary of Andretti Green Racing, signed a letter of intent in March to purchase the assets of the Grand Prix Association.
Andretti Green Promotions is already the promoter of the IRL race in St. Petersburg, Fla., as well as fielding a four-car team in the IndyCar Series.
The downtown street race in Toronto has been part of the CART or Champ Car World Series schedule since 1986.
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FILL IT UP: The Canadian government has ignored warnings from health officials and extended a regulatory exemption that will allow race cars and other competition vehicles to use leaded gasoline for two more years.
The cabinet added a year to the exemption the Environment Department originally proposed last December.
Under the change, approved by cabinet late last month, drag and stock car racers will have until Jan. 1, 2010, to halt the use of leaded fuel, which has been banned for use by all other passenger vehicles in Canada since 1990.
The IndyCar, Formula One and NASCAR racing circuits, including Canadian NASCAR, no longer allow leaded fuel.
The Canadian exemption has been in place since 1994, when the Liberal government of Jean Chretien responded to the cancellation of a major racing event in Quebec the previous year because of the ban.
Health Canada has said even low-level exposure to lead can harm the intellectual development, behavior, size and hearing of infants.
Rookies begin practice for Indianapolis 500
SAFER barriers going into Lowe’s backstretch
Young mechanics win time at Roush Fenway
