Spelman College students took top honors in the seventh annual Moguls in the Making entrepreneurial pitch competition, where 50 students from Historically Black Colleges and Universities (HBCUs) developed innovative and impactful solutions to address economic mobility challenges in Detroit. The winning team will be featured on “The Jennifer Hudson Show” on Sept. 25 to speak about their Moguls in the Making experience and winning idea.
The Moguls in the Making competition, held Sept. 11-14 in Detroit, was hosted by Ally Financial in collaboration with the Thurgood Marshall College Fund (TMCF). Since the program’s inception in 2019, nearly 400 students have participated. To date, Ally has awarded nearly $1.5 million in scholarships and prizes through Moguls in the Making.
“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 Detroit to learn about the city’s rich heritage, community and challenges. They were then assigned industries and asked to develop a concept to support economic mobility in Detroit, creating business plans to put those ideas into action. This year, in addition to learning experiences, students also explored how to integrate artificial intelligence (AI) into their processes responsibly, learning how AI will support the workforce of the future.
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.