ATLANTA (April 24, 2024) – Spelman College students took home the first place $1 million grand prize at the Goldman Sachs Market Madness Competition on April 22, 2024. Spelman has won the competition three times in four years.
Victoria Cain, C’2026, Makhi Frempong, C’2026, Olivia Rivera-Spann, C’2026 and Symone Thompson, C’2027, competed against 26 other teams representing 10 Historically Black Colleges and Universities (HBCUs). Over the course of the semester, the students conducted company research and proposed strategic business solutions for Nike. Finalists from four HBCUs presented their final case studies to top Goldman Sachs and Nike executives for the chance to win the top prize.
“I couldn’t be more proud of the Spelman students who represented with excellence during the Goldman Sachs Market Madness competition,” said Spelman College President Helene D. Gayle. “We applaud their hard work and dedication to prepare throughout the semester and for ultimately bringing home the top prize for the third time.”
Goldman Sachs launched the Market Madness initiative in 2020 as part of the firm’s broader strategy to meaningfully advance progress on racial equity and build a more inclusive economy, beginning with investing in and creating a diverse pipeline of talent. The firm has recruited 40 students for internships from the program, with many accepting full-time offers, according to the company.
Additional grants were awarded to the following HBCUs:
Second Place: Howard University ($500,000 grant)
Third Place: Florida A&M University ($250,000 grant)
Fourth Place: Delaware State University ($250,000 grant)
The Market Madness: HBCU Possibilities Program is a core component of Goldman Sachs’ $25 million, five-year commitment to HBCUs and goal to double the number of campus-analysts recruited from HBCUs by 2025. In four years, Goldman Sachs has awarded $20 million in grants and scholarships to students and schools through the program.
“Emerging victorious in the Goldman Sachs Market Madness competition is a genuine reflection of our unwavering perseverance, meticulousness and the goodness of God. This exceptional contest provided us with a platform to hone our abilities and visualize our forthcoming roles as analysts in the industry,” said team member Makhi Frempong, economics major. “It is a remarkable feat to be part of Spelman’s enduring heritage by virtue of our hard work. This journey has been truly extraordinary, demonstrating our growth as professionals in an astonishing manner.”