Spelman College students took home a third place win in the sixth annual Moguls in the Making entrepreneurial pitch competition. During the competition, students from 52 Historically Black Colleges and Universities (HBCUs) created innovative and impactful solutions to tackle economic mobility challenges in Detroit. Each student from Spelman was awarded a $5,000 scholarship. All other students who competed received a $1,000 scholarship for their participation.
The competition, held from October 2 – 6 in Detroit, was hosted by Ally Financial in collaboration with the Thurgood Marshall College Fund (TMCF), the largest organization exclusively representing the Black college community.
“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.”
The five-day program consisted of motivational speeches from elected officials, workshops, fireside chats and mentor engagement, which allowed students to get exposure to industry trends and opportunities through personalized advice, encouragement and hands-on experience. On the final day, each team presented their business plan to a panel of judges. The top four teams were awarded prizes.
The Spelman team included: Awah Asangwe, C'2026, economics and political science student from Kansas City, Missouri.; Madison Corzine, C'2027, political science student from Ft. Worth, Texas; Dominique Preston, C'2027, comparative women’s studies student from Detroit; Wynter Stokes, C'2025, economics student from Detroit; and Symone Thompson, C'2025, political science student from Tallahassee, Florida.
The Spelman team developed The D.O.P.E Initiative, 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 underserved individuals in the housing market.
Since its start in 2019, the Moguls in the Making program has helped over 300 students from HBCUs develop entrepreneurial skills and tackle economic mobility challenges. Ally has employed 46 former participants as interns and hired 15 as full-time employees in various roles. The program has awarded over $1 million in scholarships and prizes, providing financial support and recognition.
To learn more about the program, visit ally.com/go/moguls.
For more information about TMCF, visit TMCF.org.