Leading Road to Indy team Juncos Racing, which acquired IndyCar assets from KV Racing Technology, has announced it will enter the 2017 Indianapolis 500.
Ricardo Juncos's squad took Spencer Pigot to the Indy Lights title in its first year in the series in 2015 (pictured, bottom), having previously been renowned for success in Pro Mazda.
Last year it opened a new 40,000 square foot building in Speedway, Indiana, with a view to graduating to IndyCar and then acquired two chassis and some pit equipment when KV closed.
"This is a dream come true for me and my team," said Juncos.
"This is definitely one of the biggest moments in my life."
The team has yet to announce whether it will use Honda or Chevrolet equipment or who will drive its Indy 500 entry.
"It's always hard to identify the right moment and right time to make a big move and make big decisions in motor racing, but I am confident the timing is right and that we will succeed as we did in the Mazda Road To Indy ladder series," Juncos said.
KV co-founder Kevin Kalkhoven had already made clear he would help Juncos make its IndyCar move.
"We are delighted Ricardo is developing a programme to progress to the Indy 500 and beyond," Kalkhoven said.
"We are committed to helping him and his team with our experience, equipment and data to best ensure a successful entry."
IndyCar president of competition and operations Jay Frye said Juncos's announcement showed the Road to Indy series could act as a ladder for teams as well as drivers.
"IndyCar has been fortunate to have many drivers graduate from the Mazda Road To Indy programme to the Verizon IndyCar Series, and those drivers have done a phenomenal job over the years," he said.
"Another goal of the Mazda Road to Indy programme is to graduate teams and IndyCar is working hard to help create opportunities for those teams to move up to the Verizon IndyCar Series.
"Ricardo and Juncos Racing have a great history of success, and we are proud to have them become a part of the Verizon IndyCar Series."