The Society for Science began the competition in 1942 with Westinghouse Electric Corporation; for many years, the competition was known as the Westinghouse Science Talent Search. In 1998, Intel became the sponsor after it outbid several other companies. In May 2016, it was announced that Regeneron Pharmaceuticals would be the new title sponsor. Over the years, some 147,000 students have entered the competition. Over 22,000 have been named semifinalists and 2,920 have traveled to Washington, D.C., as contest finalists. Collectively, they have received millions of dollars in scholarships and gone on, in later years, to capture Nobel Prizes, Fields Medals, MacArthur Fellowships and numerous other accolades.