What is your Degree? Where are you studying?
Have you tried approaching small grass roots teams and asking them if there is anything that they would like to try.
You may find for example that someone wants to stress analyse there car and your university has the equipment. What you could do then is analyse what is currently happening with their car and design them a new chassis using FEA.
That is purely an example there are endless possibilities.
Let me know what you decide to do.
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