DETROIT—Five exceptional students from Historically Black Colleges and Universities (HBCUs) recently transformed innovative ideas into winning strategies at the seventh annual Moguls in the Making competition. Hosted by Ally Financial and the Thurgood Marshall College Fund, this premier entrepreneurial event awarded over $200,000 in scholarships and prizes to students developing solutions for economic mobility challenges.
The four-day intensive program in Detroit brought together some of the nation’s most promising young entrepreneurs. Among the standout participants were students from Spelman College, who emerged with both accolades and actionable insights for succeeding in today’s competitive business landscape.
### Beyond the Business Pitch
Moguls in the Making distinguishes itself from typical pitch competitions by emphasizing real-world problem-solving. This year’s focus on economic mobility resonated deeply with participants, many of whom have personal experience with the systemic barriers they aimed to address.
Students participated in workshops, mentorship sessions, and collaborative brainstorming before presenting their final proposals to judges from Ally Financial and industry leaders. Evaluations prioritized creativity, feasibility, and potential impact.
### The Winning Formula
For the Spelman team, preparation began months before the competition. Their victory stemmed from extensive research, prototyping, and refining a proposal focused on increasing financial literacy in underserved communities. The project impressed judges with its practical approach and emotional resonance.
“A great idea alone isn’t enough—you must communicate its value clearly and convincingly,” explained one team member. “We dedicated countless hours to practicing our delivery, anticipating questions, and ensuring every aspect of our proposal was airtight.”
The students emphasized how their HBCU experiences shaped their solutions. “We understand the communities we’re trying to help because we’re part of them,” another student noted. “That authenticity resonates in your pitch.”
### Mentorship and Collaboration as Catalysts
Throughout the competition, mentors from Ally Financial and the Thurgood Marshall College Fund provided guidance on market analysis, presentation skills, and strategic thinking.
“Mentors who believed in us and challenged us to think bigger were invaluable,” a Spelman student shared. “They helped identify blind spots and encouraged bold vision.”
Despite the competitive environment, participants found strength in collaboration. “We weren’t just competing against each other—we were lifting each other up,” one participant observed. “That sense of community defines what makes Moguls in the Making exceptional.”
### Closing the Opportunity Gap
Initiatives like Moguls in the Making address more than funding disparities—they provide crucial platforms for innovation and networking that empower underrepresented students. For HBCUs, which often receive less visibility and resources than predominantly white institutions, such opportunities are particularly valuable.
“This isn’t just about winning,” emphasized a Thurgood Marshall College Fund representative. “It’s about investing in the next generation of leaders. With proper support, there’s no limit to what these students can achieve.”
### The Future of HBCU Entrepreneurship
The Spelman students’ success signals the growing impact of HBCUs in entrepreneurship. With increased investment and recognition, these institutions are positioned to become powerful engines of innovation and economic empowerment.
“This is only the beginning,” declared a Spelman team member. “We’ll apply what we’ve learned here to continue building, creating, and driving change.”
For aspiring entrepreneurs, the competition offers clear lessons: believe in your idea, refine your pitch, seek mentorship, and value collaboration. For observers, it demonstrates that the future of business and social innovation is both promising and remarkably diverse.
The Moguls in the Making competition provides a transformative model for corporate-educational partnerships that develop future leaders. As the Spelman students return to campus with prizes and renewed confidence, they carry both the rewards of victory and the responsibility to inspire others—proving that with determination, creativity, and community support, ambitious goals become achievable realities.