How Big Sean’s Pitch Competition Energizes Entrepreneurs at HBCUs

The Florida A&M University students pitched a foolproof idea: help small businesses make financial decisions through an AI tool that analyzes cash flow. But the presentation didn’t feel as solid. The promotional video lagged, the transitions to the next part of their presentation lurched, and the clicker glitched. The stakes were high in 2019 for the 50 HBCU students participating in the inaugural competition known as “Moguls in the Making” created by Detroit native rapper Sean Anderson, or “Big Sean.” Anderson teamed up with the Thurgood Marshall College Fund and Ally Financial to build support networks for future entrepreneurs. The winning team earned scholarship money, internships at Ally Financial, and laptops. Plus, their pitches possessed the potential to make a future impact on Detroit thanks to the competition’s focus on industries such as education, healthcare, and government.

But the technical glitches made Florida A&M student Keishon Smith doubt his shot at winning even though he’d made a hobby out of attending competitions. The 30 or so competitions he’s pitched at appear as highlights on his Instagram, and he revels in the opportunity to put his engineering skills to use and develop quick business solutions. But most importantly, competitions open the door for the next step in the careers of young entrepreneurs like Smith. 

“These competitions change your mindset and allow people of color to get exposure to see this is possible,” Smith says. “I can get a job as a programmer. I can start my own business instead of working for a business.” 

Ultimately, Smith and his classmates took home the top prize, but organizers ensured all students walked away with presentation experience and new mentors. And it’s very much needed. In a promotional video, Anderson notes that even though 13% of the American population is Black, “only 1% of venture capitalist-backed startups have Black founders,” he says. “Moguls in the Making program is out to change that.”

Arriving at Ally for his summer internship in Charlotte, N.C., Smith met fellow intern Erin Martin, who had pitched with a team from Alabama A&M University. Her team’s idea for a mobile app that connected Detroiters to mental health resources didn’t place, but Ally Financial offered her and many others from the competition internships. 

The two spent the summer working on a project for the game Minecraft that would help teach middle schoolers financial literacy. The new component of the game features emeralds that players could use to buy wood and build their own homes, along with food and transportation. Players could even invest in a water bucket to put out house fires caused by lightning. These features haven’t made it into the game yet, but Smith says that Microsoft and Ally are in talks to add them. 

“These competitions change your mindset and allow people of color to get exposure to see this is possible,” Smith says. “I can get a job as a programmer. I can start my own business instead of working for a business.”

For Martin, who is a rising senior in college, the competition pushed her ambitions in a new direction, motivating her to continue pitching and even launch her own business someday. “I’ve started to do competition after competition after Moguls in the Making,” Martin says. “That rush I get from building out ideas, and especially the experience I got from Ally this past summer, has made me realize I want to be in an entrepreneurship startup space.”

Aspirations such as this were part of the goal for competition judges like George Spencer, who became involved through his role as the chief development officer at the Thurgood Marshall College Fund. He says there is a plan to hold the competition again, but there is no set date yet. He praises Ally’s role in the competition and their presence in Detroit. He also thinks Moguls in the Making highlights a reignited entrepreneurial interest in Detroit. “For me, when I think about Detroit historically, it was the mecca of entrepreneurship,” Spencer says, noting the impact the automotive industry has on the city and Motown’s influence on the entertainment industry. “You have a rich history and tradition of entrepreneurship in that city, and we all saw the decline when the automotive industry took a fall, but I think the spirit of it never left. It just needed to be reinfused with the proper energy.”

Featured photo courtesy of the Thurgood Marshall College Fund.

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Andrea Guzmán is a staff writer for Socially Driven. She received her master’s degree at the S.I. Newhouse School of Public Communications, where she’s reported for the Syracuse community. In her downtime, the Texas native enjoys supporting local taquerias, reading memoirs, and hanging out with her cat.

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Andrea Guzmán is a staff writer for Socially Driven. She received her master’s degree at the S.I. Newhouse School of Public Communications, where she’s reported for the Syracuse community. In her downtime, the Texas native enjoys supporting local taquerias, reading memoirs, and hanging out with her cat.