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Friday, June 14, 2024

Spelman College Wins Goldman Sachs’ Investment Competition & Receives $1 Million Grant

Several students from Spelman College have helped their institution win a significant monetary prize through their dedication to enhancing their financial literacy.

The fourth annual Market Madness competition, organized by Goldman Sachs, concluded after a semester-long in-depth introduction to critical financial concepts and their practical applications for HBCU students.

Spelman won the competition for the third consecutive year, securing a $1 million grant.

The program’s objective is to educate students on topics such as investment in the capital markets, business development, and other areas that many Americans wish they had more exposure to at an earlier stage.

Per recent CivicScience data, 1-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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