Spelman College wins 7th annual Moguls in the Making entrepreneurial pitch competition
Rhea-AI Summary
Ally Financial (NYSE:ALLY) announced that Spelman College won the 7th annual Moguls in the Making entrepreneurial pitch competition, where 50 HBCU students competed for over $200,000 in scholarships. The winning team's concept, Prospera, focuses on supporting women-owned small businesses in Detroit.
The competition, hosted in collaboration with the Thurgood Marshall College Fund, saw teams from 10 different HBCUs developing solutions for economic mobility challenges in Detroit. The winning Spelman team received $20,000 scholarships per student, while Hampton University and North Carolina A&T secured second and third places with $10,000 and $5,000 scholarships respectively.
Since 2019, Ally has awarded nearly $1.5 million in scholarships and prizes through this initiative, which has involved nearly 400 students. The winning team will be featured on "The Jennifer Hudson Show" on September 25, 2025.
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- Ally has awarded nearly $1.5 million in scholarships and prizes through the program since 2019
- Program provides valuable business experience and networking opportunities for HBCU students
- Competition integrated AI learning to prepare students for future workforce needs
- High participation with 460 students completing the application process
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- None.
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- Ally and Thurgood Marshall College Fund gathered 50 students to compete for over
$200 k - A team of students from Spelman College received first place for their pitch that explored the intersection of entrepreneurism and impact in
Detroit through helping women-owned businesses grow - Winning team from Spelman College will be featured on "The Jennifer Hudson Show" airing on Sept. 25
The Moguls in the Making competition, held Sept. 11-14 in
"Moguls in the Making provides invaluable early business experience for future leaders, offering students the opportunity to learn from experts and explore how different industries can make an impact," said Kathie Patterson, chief human resources and corporate citizenship officer, Ally. "At Ally, we're focused on creating brighter futures by intentionally addressing economic mobility challenges facing our communities."
Fifty students – 10 teams with five students each – toured Ally's hometown of
The Moguls in the Making program included motivational messages from executives and community leaders, workshops, fireside chats and mentor engagement. A mogul in his own right, actor, television personality and author Terrence J, shared his career journey and spoke about how grit and determination allowed him to follow his passions and build a name for himself in the entertainment industry.
On the final day, each team presented their business plan to a panel of judges who awarded prizes to the top three teams based on the pitch. Members of those top teams each received a scholarship for the 2025 school year and other prizes to support their education.
The 2025 top three teams and their pitch concepts were:
First Place: Spelman College,
Their idea, Prospera, creates an ecosystem that builds up women-owned small businesses, increasing economic mobility in
- Aubria King, Junior, Biology
- Ca'Miyah King, Junior, Political Science
- Kennedy
Washington , Sophomore, Sociology - Madison Harris, Sophomore, Literature, Media and Writing
- Sydney Johnson, Sophomore, Economics
Second Place: Hampton University,
Their idea, FuelU, addresses food insecurity through meal plans at community college campuses across the city of
- Arthur Green, Senior, Strategic Communications
- Kaleb Moore, Junior, Business Management
- Lynnette Smith, Sophomore, Finance
- Symonne Brooks, Senior, Marketing
- Trinity Polk, Senior, Journalism
Third Place: North Carolina A&T State University,
Their idea, Detroit Capital Connect, is an AI-powered tool that supports economic mobility by helping small businesses identify grants, loans and funding opportunities while simplifying the application and submission process.
- Akevia Wilkerson, Sophomore, Psychology
- Bryce Ferebee, Senior, Supply Chain Management
- Dorian Jackson, Junior, Marketing & Sales
- Enioluwa Olabode, Sophomore, Computer Science
- Jakari McIver, Sophomore, Finance
All other students who competed received a
"The Thurgood Marshall College Fund is incredibly proud to extend our relationship with Ally for the seventh year," said Dr. Harry L. Williams, TMCF president & CEO. "Ally's investment in the innovation and entrepreneurial talent at HBCUs highlights its commitment to empowering students to improve their socioeconomic standing—benefiting not only the students but also their communities."
More than 460 students completed the application process for this year's competition. Those chosen to compete hail from Delaware State University, Florida A&M University,
Mentors and team coaches from the Detroit business community including Ally executives, past Moguls in the Making participants and HBCU alumni donated their time to work with students, providing valuable perspective throughout the competition.
Learn more about the program at www.ally.com/moguls.
Additional Moguls in the Making quotes for use:
Terrence J, actor, television personality and author
"As a graduate of an HBCU, I know the importance of opportunities like Moguls in the Making for young leaders. I could not pass up the chance to once again work with Ally to elevate students from all backgrounds and encourage them to pursue their dreams."
Natalie Brown, senior director of corporate citizenship at Ally
"As a proud HBCU alumna, the work we do with Moguls in the Making is deeply personal, investing in future leaders to create pathways to lasting success. By providing essential access and exposure for these talented students in a city like
Andrea Brimmer, chief marketing and public relations officer at Ally
"Moguls in the Making is full of rigorous learning and ideation, and these students once again impressed us with their energy and creativity for solving real-life challenges. After events like these, I come away feeling inspired by the impact this next generation will have in shaping the future of business and society. The city of
About Ally Financial
Ally Financial Inc. (NYSE: ALLY) is a financial services company with the nation's largest all-digital bank and an industry-leading auto financing business, driven by a mission to "Do It Right" and be a relentless ally for customers and communities. The company serves customers with deposits and securities brokerage and investment advisory services as well as auto financing and insurance offerings. The company also includes a seasoned corporate finance business that offers capital for equity sponsors and middle-market companies. For more information, please visit www.ally.com.
For more information and disclosures about Ally, visit https://www.ally.com/#disclosures.
For further images and news on Ally, please visit http://media.ally.com.
About the Thurgood Marshall College Fund (TMCF)
Established in 1987, the Thurgood Marshall College Fund (TMCF) is the nation's largest organization exclusively representing the Black college community. TMCF member schools include the publicly supported historically Black colleges and universities, predominantly Black institutions and historically Black community colleges, enrolling nearly
Contacts:
Alex Moore
Ally Public Relations
Alex.Moore@ally.com
Cindy Kamerad
The Allen Lewis Agency
cindy@theallenlewisagency.com
Clara Ross Stamps
TMCF
clara.stamps@tmcf.org
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SOURCE Ally Financial