Spelman College students have been reigning undefeated for the Goldman Sachs Market Madness Competition through the HBCU Possibilities Program.

In April 2024, Victoria Cain, Makhi Frempong, Olivia Rivera-Spann, and Symone Thompson won the pitch competition and its $1 million top prize, according to a news release. The victory marks the HBCU’s third win in four years.

“Emerging victorious in the Goldman Sachs Market Madness competition is a genuine reflection of our unwavering perseverance, meticulousness and the goodness of God,” said Frempong, who is an economics major, according to the news release. “This exceptional contest provided us with a platform to hone our abilities and visualize our forthcoming roles as analysts in the industry. It is a remarkable feat to be part of Spelman’s enduring heritage by virtue of our hard work. This journey has been truly extraordinary, demonstrating our growth as professionals in an astonishing manner.”

The win came after Frempong, Cain, Rivera-Spann, and Thompson competed against 26 teams from 10 HBCUs, per the news release. The objective of the competition was to demonstrate effective business solutions for Nike. As a result of their research, finalists shared submissions of their case studies  with leaders from both Nike and Goldman Sachs for the ultimate prize.

“I couldn’t be more proud of the Spelman students who represented with excellence during the Goldman Sachs Market Madness competition,” Spelman College President Helene D. Gayle said. “We applaud their hard work and dedication to prepare throughout the semester and for ultimately bringing home the top prize for the third time.”

While Spelman College came in first place, the other HBCUs from the final four — Howard University, Florida A&M University, and Delaware State University — received grants that together totaled $1 million. 

According to the news release, Goldman Sachs’ Market Madness Competition: HBCU Possibilities Program is under its five-year pledge to HBCUs, including a mission of doubling HBCU campus-analyst recruits by 2025. So far, Goldman Sachs has presented students with $20 million in grants and scholarships. Moreover, the company says it has onboarded 40 students from the program who have been interns and/or accepted full-time offers.