The family of the late Formula One racer Jules Bianchi intends to honor the driver by creating a foundation aimed at helping young drivers ascend the motorsports ladder from karting to F1 racing. 

Bianchi passed away last summer after succumbing to injuries he sustained in a wreck at the October 2014 Japanese Grand Prix. He was just 25. 

“My son Jules left us too early to fulfill his objectives and dreams," Philippe Bianchi said in a statement announcing the Jules Bianchi Society. "Today, I must honor him through this foundation."

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The Jules Bianchi Society is designed to help cover some of the massive costs incurred by drivers as they work their way through development leagues and into full-time professional racing. Without sponsor assistance, racing is prohibitively expensive for many aspiring drivers.

The foundation is aimed at drivers between 8 and 13 years of age who are competing in karting. Its goal is to help at least four drivers compete in international karting competitions by covering up to 100,000 euros in expenses per driver each year for three years. This money will not only allow the drivers to compete but also develop the kind of network necessary to pursue sponsors and teams. 

Bianchi's family is also suing the FIA sanctioning body, his Marussia racing team, and Bernie Ecclestone's Formula One Group, over what its lawyer calls the driver's "avoidable" death.


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