[2] The accolade also distinguishes engineers who were most responsible for designing and developing the winning concept to comply to IndyCar Series technical regulations, and awards "functional and recent permutations" that improve energy efficiency, performance or safety in chassis, drive train profiles by "emphasizing competitive potential along with future automotive industry possibilities.

[3] Each year before the Indianapolis 500, an Indiana Section SAE International members committee meet with IndyCar Series technical officials to identify potential candidates.

[4] The Indiana Section of SAE International provides $10,000 prize money to the recipient or team,[a] who receive a plaque and have their names added to a permanent trophy on display at the Indianapolis Motor Speedway Museum.

[3][4] The award has been presented for two concepts in a single year just once: in 1977, to Bob Bubenik and Bruce Crower for developing the automatic clutch and flat-eight engine, respectively.

[13] The 2020 winners were Tino Belli, Marco Bertolini, Ed Collings, Craig McCarthy, Antonio Montanari, Bill Pappas, Stefan Seidel and Brent Wright, who developed the IndyCar Aeroscreen cockpit protection device.