The main race is expected in 2008, but the Formula One fever has already hit Singapore shores with the conversion of Ngee Ann Polytechnic Convention Centre into a racing track for the 'F1 in Schools Ngee Ann Challenge'.
Students were transformed into drivers of miniature versions of the real cars, which were made of balsa wood and powered by compressed carbon dioxide.
Even though the cars were tiny, they were hurtling down the 20-metre track in less than two seconds.
In the end, the champions were the team from Tampines Secondary School, who called themselves 'Sonic T'.
They took the chequered flag in a time of 1.118 seconds.
Competition aside, the students also picked up some valuable lessons in life and engineering.
Robin Peck, part of the champion team in the competition, said: "We learn to cooperate with each other and to be efficient as a team."
Muhammad Haikal Asyraf, part of the champion team, said: "We made the car look slimmer so that it could cut the air."
Organised by the Ngee Ann Polytechnic School of Engineering, the challenge, now in its third year, has seen a vast increase in the number of participants from 19 teams in 2005 to the current 29 teams.