Philander Smith and Southern University Win Annual Moguls in the Making Entrepreneurial Pitch Competition

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.

“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 and toured Detroit, making 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 week-long event included an exciting surprise from “The Jennifer Hudson Show” to air Oct. 25.

“The Thurgood Marshall College Fund is incredibly proud to extend our relationship with Ally for the sixth year,” said TMCF President & CEO Dr. 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.”