Formula SAE is a student engineering competition where teams from universities design, build, and race small formula-style cars. The event focuses on developing practical engineering skills, teamwork, and project management, allowing students to apply theoretical knowledge in a real-world context. Teams are judged on various criteria, including design, cost, and performance during dynamic events like acceleration, skid pad, and endurance races. The competition encourages innovation and creativity, as students must balance performance with safety and manufacturability, preparing them for careers in the automotive and engineering industries.