Spelman College Students Win Goldman Sachs’ Investing Competition And $1 Million Grant

ATLANTA, GEORGIA – MARCH 20: Congresswoman Nikema Williams (C) and students attend Spotify NextGen Creator Day at Spelman College on March 20, 2023 in Atlanta, Georgia. (Photo by Paras Griffin/Getty Images for Spotify)

Some Spelman students have helped the college earn a huge cash prize thanks to their commitment to becoming more financially literate.

Goldman Sachs held its fourth-annual Market Madness competition, an event that culminates a semester-long immersive introduction to key financial concepts and real-world applications for HBCU students. For the third year in a row, Spelman College secure first place and a $1 million grant.

The program aims to teach students concepts like investing in the capital markets, business development and more, two areas that many Americans wish they had earlier exposure with. Per recent CivicScience data1-in-10 U.S. adults say they are ‘not at all financially literate,’ while the majority claim they are ‘somewhat financially literate. ‘ Over a quarter feel they are ‘very financially literate.

“The HBCU Market Madness pitch competition is always a highlight of the year. Seeing the presentations and ideas that these students generate throughout the semester reminds us of the incredible talent at HBCUs,” Megan Hogan, Goldman Sachs global head of Talent and chief diversity officer, said in a news release shared with ESSENCE. “Goldman Sachs is committed to building a diverse pipeline of talent and we’ve been excited to welcome participants of the program to start their careers at Goldman Sachs over the last four years.”

Other finalists from Delaware State University, Florida A&M University, and Howard University competed with case studies to top Goldman Sachs and Nike reps for the chance to win $250,000 to $1 million grants for their respective schools.

The Market Madness competition is a tentpole of Goldman Sachs’ HBCU Possibilities Program, a major component of Goldman Sachs’ $25 million, five-year commitment to Historically Black Colleges and Universities.

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