There's a lot of smart people working at Intel, and in addition to making the next generation of chips for our computers and gadgets, they are trying to encourage the next generation of very smart people by supporting them through the Intel Science Talent Search (Intel STS).

The STS first began in 1942 with sponsorship by Westinghouse. Intel took over the sponsorship in 1998. Dubbed "the junior Nobel Prize," Intel STS is the oldest and most prestigious science competition, with up to $1.25 million in scholarships.

This year there were 1,602 entrants from 45 states, Puerto Rico and the Virgin Islands in areas like biochemistry, chemistry, physics, mathematics, engineering, behavioral science and medicine and health. The field has been scaled down to 300 semifinalists, who will  receive $1,000 with an additional $1,000 to their respective school.

On Jan. 30, the field will be cut to 40 finalists, who will be brought to Washington, D.C. for a week-long, all-expenses-paid event in March. Each finalist will receive at least $5,000 and a new laptop run, while the top ten finalists will get $100,000 scholarships. They will be announced at a black-tie banquet on March 11.

Black tie? They don't even wear neckties at IDF…