F1 is now hardly even a "dream" for up and coming racing drivers.

That is the view of 1997 world champion Jacques Villeneuve, as he announced he is heading a new driving school in collaboration with his friend Patrick Lemarie.

Based at Magny Cours, 'Feed Racing France' aims to resurrect the idea that talent can carry a driver into the professional ranks.

"Parents would come to me and say 'My child wants to race, what should I do?' I would say 'Tell him to do something else'," Villeneuve told Motorsport-Magazin.com.

"Now, the children do not even dream anymore," the former Williams driver added.

"For many, the future is the Porsche Cup at most, because they cannot get anywhere financially.

"In the past, you needed talent, and money was a nice bonus. Now you need money, and if you have talent, it's a nice bonus," Villeneuve said.

The standout drivers in Villeneuve's school will win a funded year in British Formula 4 with the top team Carlin.

"And if we have someone who is really special, then we will do everything we can to keep them going," he added.