Formula 100, a new organisation where Formula One's leading sponsors can air their views on the sport, is launching with its first event taking place in London on 1st September.

Access to the organisation is by invitation only and is strictly limited.100 founding members of F100 comprising the top individuals and sponsors in the sport have been selected and for the first time these leading sponsorship figures will all be gathered in one room to discuss the key issues affecting the sport today.

Formula One attracts an estimated £455m ($723) million in team sponsorship annually from 175 sponsors, according to industry monitor Formula Money. The sport had a global television audience of 520 million unique viewers last year which makes it a very attractive sponsorship property. F100 provides F1's top sponsors with the opportunity to shape the future of the sport and thus maximise their investment. The most important current issues and the way forward to the future will be under discussion and minutes from the event will be submitted to Formula One commercial rights boss, Bernie Ecclestone.

Speakers at the inaugural event, which takes place at The Waldorf Hilton Hotel in London, include Richard Bracewell, Shell's general manager of global sponsorship and Chris Burton, vice president of global sponsorships at SAP.

The speakers will make presentations to F100's members which will be followed by a panel discussion with audience participation, chaired by former F1 commentator James Allen. The themes of the event include how to secure sponsorship in the current economic climate, the most effective activation strategies, and the best ways for companies to overcome sponsorship hurdles.

Members will also receive a selection of business benefits ideally suited to executives working in the busy world of F1. There will be no agency representatives or members of the media present at the event, giving further assurance to members that only the highest-calibre audience will be in attendance.

"F100 is a great concept and will allow the sponsors to both learn from each other as well as propose change for the good of the sport," says Allen. "The calibre of members and quality of the panellists have to be taken seriously."