Ally and Thurgood Marshall College Fund gathered 50 students
to compete for over $200k in scholarships and
prizes
- Two teams tied for first place, each student receiving a
$20,000 scholarship and guaranteed
internship
- The week-long event included an exciting surprise from "The
Jennifer Hudson Show" to air Oct.
25
- Ally's CEO Michael Rhodes and
government leaders spoke with students and shared perspective on
economic mobility and the work being done to revitalize
Detroit
DETROIT, Oct. 8, 2024
/PRNewswire/ -- Philander Smith University and Southern University students took top honors in the
sixth 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 competition, held October 2-6, was hosted by Ally
Financial (NYSE: ALLY) in collaboration with the
Thurgood Marshall College Fund (TMCF), the largest organization
exclusively representing the Black college community. This year's
event took place in Detroit at The
Icon building, home to the state's only HBCU, and the nation's only
design-focused HBCU, Pensole Lewis College.
The Jennifer Hudson Show had something special prepared for the
students early in the week. Everyone is encouraged to tune in on
October 25 to see the surprise.
"These Moguls stand out among their peers – they're hungry for
new experiences, to learn about potential career paths, and to make
a big impact in the community," said Reggie
Willis, chief diversity officer at Ally. "They always bring
insightful ideas and perspectives to showcase in their pitches, and
it's exciting to see their growth in just a few short days."
Fifty students – 10 teams with five students each –
toured Detroit, Ally's headquarters, to learn about the city's
rich heritage and community challenges with stops at Orchestra
Hall, Motown Museum and Detroit Pizza Bar. 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.
The five-day program included motivational messages from
Michigan Lt. Governor Garlin Gilchrist
II and Detroit Mayor
Mike Duggan, workshops, fireside
chats and mentor engagement.
On the final day, each team presented their business plan to a
panel of judges who awarded prizes to the top four teams based on
the pitch. Members of those top teams each received a scholarship
for the 2025 school year, guaranteed offers of a paid internship at
Ally for summer 2025, and other prizes to support their
education.
The 2024 top four teams and their pitch concepts were:
First Place Tie: Philander Smith University and
Southern University, $20,000 scholarships for each student.
Philander Smith University
Their idea, Little Genius, is an AI-Powered platform for K-5
students providing personalized learning to enhance literacy,
numeracy, and science. The platform uses AI to create unique
learning pathways that meet the needs of all students on an
individual basis. Little Genius also includes gamified interactive
assessments with voice recognition and offline
functionality.
- Kenna Agbugba, junior computer
science student from Abuja,
Nigeria
- Angel Balogun, sophomore
computer science student from Lagos,
Nigeria
- Zara Duruji, sophomore computer
science student from Abuja,
Nigeria
- Jennifer Obinwanne, sophomore
computer science student from Lagos,
Nigeria
- James Owolabi, senior computer
science student from Abuja,
Nigeria
Southern University and A&T
College
Their Electric Meets Opportunity app revolutionizes
transportation for low-income communities by providing affordable,
eco-friendly access to clean energy vehicles. Designed for seamless
convenience, it empowers drivers and passengers to reach essential
destinations like work and healthcare, all while tapping into the
future of smart, sustainable mobility.
- Megan Abraham, senior marketing
student from Baton Rouge, La.
- Taylor Curtis, senior elementary
education student from Houston
- Jazmon DeRousselle, senior mass
communications student from Houston
- Rashard Grace, senior computer
science student from Madison,
Miss.
- Nalone Sumo, senior finance student from Baton Rouge, La.
Second Place: Hampton
University, $10,000 scholarships for each student.
The team's Gov On the Go project addresses the lack of access to
public services and job opportunities in Detroit's underserved communities by engaging
directly with residents, creating personalized pathways, and
tracking success to drive economic mobility and reduce poverty.
They plan to expand efforts through targeted outreach, adding
resources like more vehicles and broader initiatives to maximize
impact.
- Chelsea Agyei, junior
biochemistry student from Virginia Beach,
Va.
- Kiana Bernard, senior strategic
communication student from Cincinnati,
Ohio
- Christin Fluellen, junior
journalism student from Detroit
- Breaden Lessane, sophomore business administration student from
Winston Salem, N.C.
- L. Ceri Mundrati, sophomore journalism student from
Charlotte, N.C.
Third Place: Spelman
College, $5,000 scholarships for each student.
The D.O.P.E. Initiative is a mission-driven credit union that
aims to provide access to capital for Detroit residents that have been historically
underserved by financial institutions. While offering many of the
traditional services offered by a credit union, the D.O.P.E.
Initiative will focus primarily on under serviced individuals in
the housing market.
- Awah Asangwe, junior economics and political science student
from Kansas City, Mo.
- Madison Corzine, sophomore
political science student from Ft. Worth,
Texas
- Dominique Preston, sophomore
comparative women's studies student from Detroit
- Wynter Stokes, senior economics
student from Detroit
- Symone Thompson, senior
political science student from Tallahassee, Fla.
All other students who competed
received a $1,000
scholarship for their participation.
"The Thurgood Marshall College Fund is incredibly proud to
extend our relationship with Ally for the sixth year," said
TMCF President & CEO Harry L.
Williams. "Ally's continued 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 and society as a whole."
Since the program's inception in 2019, more than 300 students
have participated. Ally has employed 46 of the former Moguls as
interns and hired 15 as full-time employees across a variety of
functions, including technology, marketing, product design and
corporate services. To date, Ally has awarded more than
$1 million in scholarships and prizes
through Moguls in the Making.
About the Competition
More than 600 students from 52 schools completed the application
process for this year's competition. Those chosen to compete hail
from Elizabeth City State University,
Florida Agricultural & Mechanical
University, Hampton University,
Howard University, Norfolk State University, North Carolina A&T State University, Philander
Smith University, Southern University
A&M College, Spelman
College, and Texas Southern
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:
Michigan Lt. Governor Garlin
Gilchrist II
"As an entrepreneur by training, I know how important it is to
support young dreamers, doers, and innovators with the resources
they need to succeed," said Lt. Governor Garlin Gilchrist II. "I'm proud to participate
in Moguls in the Making, a one-of-a-kind competition bringing young
leaders from Historically Black Colleges and Universities across
the country to Detroit, the #1
emerging startup ecosystem where we are building the future and
making a difference. Whether it is growing our economy by
unleashing innovation or supporting entrepreneurs of color through
the Michigan Economic Opportunity Fund, Governor Whitmer and I are
standing tall for a Michigan where
everyone can chase their dreams and succeed."
Detroit Mayor Mike Duggan
"Ally and Thurgood Marshall College Fund embodies what
Detroit is all about—innovation,
resilience, and grit. Detroit has always been a city where big
ideas take root and grow into realities and this program is
allowing hardworking young folks to get a jump start at that. I am
so grateful to Ally for hosting this event in Detroit and providing so many HBCU students
with the opportunity to display their talents."
Senior Director of Corporate Citizenship at Ally Natalie
Brown
"Moguls in the Making is an ongoing commitment to increase
social capital among HBCU students, while providing access,
exposure, and opportunities to elevate their success. As of this
year, we will have hosted more than 300 HBCU students during the
span of this program, and each year the bar is raised higher. We've
been amazed by each team's ingenuity and creativity, time and
again."
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 approximately 11 million customers through a full range of
online banking services (including deposits, mortgage, and credit
card products) and securities brokerage and investment advisory
services. The company also includes a robust corporate finance
business that offers capital for equity sponsors and middle-market
companies, as well as auto financing and insurance offerings. 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 and
Predominantly Black Institutions, enrolling nearly 80% of all
students attending black colleges and universities. Through
scholarships, capacity building and research initiatives,
innovative programs, and strategic partnerships, TMCF is a vital
resource in the PK-12 and higher education space. The organization
is also the source of top employers seeking top talent for
competitive internships and good jobs.
TMCF is a 501(c)(3) tax-exempt, charitable organization. For
more information about TMCF, visit: www.tmcf.org.
About "The Jennifer Hudson Show"
"Choose Joy" as Season 3 of the hit Daytime Emmy-Award nominated
talk series "The Jennifer Hudson Show," hosted by multi-hyphenate
Jennifer Hudson, premiered
Monday, September 16.
The one-hour national syndicated program features celebrity
guests, viral sensations, music, and a destination to celebrate
exceptional community heroes. Tune in for fun, laughter, and
heartwarming moments as "The Jennifer Hudson Show" spreads
inspiration through extraordinary stories, talents, and passions.
Jennifer uses her powerful voice to bring fun, uplifting, and
genuine conversations to the forefront. In a world that needs more
joy and hope, our daily show is an entertainment destination for
viewers to laugh, learn, and feel inspired.
Contacts:
Jorge Avellan
Ally Public Relations
Jorge.Avellan@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
