VIDEO: Prince Harry marks start of construction of Silverstone Experience visitor attraction
The royal is the patron of the Silverstone Experience, which is set to open in spring 2019.
The project will bring the heritage of the circuit and British motor racing to life through the creation of a dynamic, interactive and educational visitor experience.
"When the Silverstone Experience opens in 14 months, it will tell the story of Silverstone, the history of British motor racing, and the pivotal role which Great Britain plays in motorsport today," said Prince Harry in his speech to guests which included councillors, dignitaries and students.
"Great Britain is a world leader in high-performance engineering and motor racing engineering in particular, as well as having some great drivers as well.
"But it is no exaggeration to say the less we encourage young people to study science, technology, engineering and maths, it will be impossible for us to continue to lead in this field.
"I'm really encouraged to have seen the state of the art facilities and equipment in the Silverstone University Technical College, but more significantly to have met the fantastic young people studying there, as well as those who have gone on to start their careers with leading employers in the motorsport industry.
"The Silverstone Experience will be a fascinating and exhilarating visitor attracting based here in at the home of British motor racing.
"I'm sure it will help to engage children in engineering by making that important connection between their textbooks and the thrills of motorsport.
"I am delighted to announce the start of the construction phase of the project and look forward to returning in 2019 to open the Silverstone Experience."