PHOTO | AALIYAH BOWDEN

Morehouse College earned first prize at the Moguls in the Making competition at Ally Charlotte Center. Each team member earned a $20,000 scholarship and summer internship.

Ally Financial and the Thurgood Marshall College Fund hosted the annual Moguls in the Making for students at historically black colleges.

Sixty students from 15 HBCUs gathered Sept. 15-18 at the Ally Charlotte Center to present business pitches for scholarships, internships and prizes.
Morehouse College took home the win with each team member earning a $20,000 scholarship and  a summer internship.

The four students were junior economics major Amari Torrance, senior software engineering major Travis Sherman, junior economic major Kasai Rogers, and sophomore business administration major Zion Melson.

“We were pretty stressed in a short amount of time, that’s pretty obvious,” said Melson. “But we really just hit the ground running. I think we were up every night ‘til like 2-2:30, saying ‘practice and practice and practice.’ Even though we had a short time period, we made the most of every hour every second.”

Morgan State University was second with students earning $10,000 in scholarships and an internship. Third place went to Southern University and Agricultural and Mechanical College, which secured $5,000 scholarships.

Teams of four had 72 hours to come up with creative solutions on how to address economic mobility in Charlotte with guidance from area business leaders and coaches from Ally. Students have mentors to guide them as they work to put together a pitch to impress the judges. The event is also a way for college students to network with peers and professionals.

“Moguls in the Making is an investment Ally is making in advancing financial and social inclusion,” said Ally Financial CEO Jeffrey Brown. “Not only do programs like this provide access and opportunities for HBCU students to learn core business and entrepreneurial skills, but it also helps build early talent pipelines with bright, passionate, and creative individuals who will be our future leaders.

“Together with long-time partner TMCF and all of the participating HBCUs, we are breaking down barriers in education and taking tangible steps to boost economic mobility for diverse communities all over the country.”

Since the program’s inception in 2019, Ally has hired 36 participants as interns and 12 as employees in information technology, marketing, product design, and corporate services.

Students were welcomed Sunday by actor and North Carolina A&T State University alum Terrence J and multi-platinum artist, philanthropist, and entrepreneur Big Sean.
“For me, it’s very important to give back and pay it forward so that the next generation can continue to go after their dreams as well,” said Terrence J, national ambassador for TMCF. “I was a recipient of the Thurgood Marshall Scholarship, and that’s what helped me in school so if it wasn’t for the investment from programs like this, I would have never been able to have this type of career that I’ve been able to have.”

During a fireside chat, business leaders talked about financial education, economic mobility and  brand building.

“There’s no such thing as a bad idea,” said Big Sean, founder of the Sean Anderson Foundation, which provides academic and wellness resources to youth.

Scholars in the audience asked questions on business investments and real estate and took pictures with the two entrepreneurs.

TMCF represents and supports nearly 300,000 students at public HBCUs, medical schools, and law schools through scholarships and other opportunities.

“Moguls in the Making is an important initiative that is helping to bridge the racial wealth gap and support high achieving students by creating lucrative career opportunities,” said Harry Williams, president and CEO of the Thurgood Marshall College Fund. “Each year, these amazing students work together to solve a real-world challenge. They never cease to impress us with their ingenuity and initiative.”

The 15 HBCUs at the event included A&T, Alabama A&M University, Alabama State University, Delaware State University, Florida A&M University, Fisk University, Grambling State University, Hampton University, Howard University, Morehouse University, Morgan State University, University, Southern University at Baton Rouge, Tennessee State University, Tuskegee University and Virginia State University.

The Moguls in the Making weekend was documented by the Black media company Revolt to create a four part-series to document the program across its TV and digital suite of platforms.
 

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