Young racers from across the country preparing to compete in 86th All-American Soap Box Derby World Championships in Akron

AKRON, Ohio — Race week for the FirstEnergy 86th All-American Soap Box Derby world championships is officially underway in Akron.

The Parade of Champions, where hundreds of young people between the ages of 7 and 20 marched down Main Street  to the opening ceremonies in Cascade Park, took place Monday afternoon.

More than 300 racers, all champions of their home regions, are looking to the chance to become world champs at Saturday's derby races.

"The champs are from across the country, as well as across the pond, Canada, and Japan," Scott Taylor, president and CEO of the International Soap Box Derby said. "To me, it's like a big family reunion of derby people."

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Taylor tells 3News last year's championship brought $4.9 million to Northeast Ohio. He estimates this year will bring in even more.

"It's increased over the course of the years," he added, "so yeah, it's going to be over $5 million."

The top three winners in the six racing divisions will take home scholarships between $1,000 and $3,000, totaling $36,000 overall. The first heat goes down the legendary hill at Derby Downs at 8:30 a.m. on Saturday, July 20. Tickets are $10.

A full race week schedule can be found here.

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