Prema has been a talent pool for several Formula 1 junior programs: from Toyota and Renault in the early days; to Alpine, Ferrari, McLaren, Mercedes, Red Bull, and Williams in recent years.

Among his first famous alumni stand future Touring Car star Fabrizio Giovanardi, multiple Le Mans winner Rinaldo Capello and Formula 1 World Champion Jacques Villeneuve.

In the following years, the team struggled to achieve competitive results but rebounded by claiming the 2011 and 2012 titles with Roberto Mehri and Daniel Juncadella.

It also entered the GP2 Series in 2016, finishing 1–2 at debut with Red Bull Junior driver Pierre Gasly and Antonio Giovinazzi.

In 2017, as the series evolved into the FIA Formula 2 Championship, Prema dominated again with Ferrari Driver Academy's Charles Leclerc claiming seven wins and seven poles en route to an early title.

[10][11][12][13] For 2018 FIA Formula 2 Championship campaign the team fielded experienced drivers Sean Gelael and Nyck de Vries.

[14][15] In the 2018 FIA Formula 3 European Championship the team were represented by Ferrari Driver Academy members Marcus Armstrong, Robert Shwartzman and Guanyu Zhou.

[19][20] For their double ADAC and Italian F4 programme they signed Olli Caldwell and Ferrari Academy drivers Enzo Fittipaldi and Gianluca Petecof.

Prema also competed in Italian F4 in 2019, where they came second in both championships, being beaten comprehensively by Van Amersfoort Racing and the Norwegian driver Dennis Hauger.