DETROIT – Ford Motor Company awarded $100,000 in scholarship prizes to student teams from Florida A&M University and Howard University as part of the 2009 Ford HBCU Business Classic, held at Clark Atlanta University.
Students were challenged to test their entrepreneurial ambitions before
a panel of judges, comprised of influential entrepreneurs from the business
community. Each team was scored on the viability of their business plans,
their overall presentation and the business plan’s potential benefit to the
community.
“As an HBCU graduate I know firsthand the impact that programs such as
the Ford HBCU Business Classic can have on students,” said Crystal Worthem,
Multicultural Marketing Manager, Ford Brand. “The real-world solutions
presented during the competition are extremely timely and will have huge
positive implications on communities and businesses nationwide. We are
excited to pave the way for this next generation of business leaders, and
gain their perspective about the current economic situation and solutions
for the domestic auto industry.”
Students from Florida A& M University in Tallahassee, Florida, submitted
their business plan for VMed LLC, and received the grand prize honors for
their life changing concept. Their company has developed a plan to utilize
technology to simplify people’s health care needs. As the grand prize
winning team, the students from Florida A&M received a total of $50,000 in
scholarship funds — $35,000 in personal scholarships and $15,000 for their
university.
The first runner up team, from Howard University, presented a plan for
AutoCard, a student printing company with licensing rights to incorporate
university logos on student business cards, and received $30,000 in
scholarships — $20,000 in personal scholarships and $10,000 for the
university. Hajj Media, also from Howard University, took home second place
honors for a plan to offer multitier marketing solution for local small
businesses. The team received the $20,000 – $15,000 in personal scholarship
funds and $5,000 for the university.
Finalists presented their business plans to the judges to prove their
plan could be converted into a viable business strategy. The judges for the
competition included George Fraser, Chairman & CEO of FraserNet/author;
Boris Kodjoe, actor/entrepreneur; Pat Lottier, CEO of Atlanta Tribune; Will
Packer, Chairman & CEO of Rainforest Films/producer; and Dr. Randal
Pinkett, Chairman & CEO of BCT Partners/author. The event was hosted by
Kevin Frazier, TV anchor and entertainment correspondent.
For more information on the 2009 Ford HBCU Business Classic
competition, click on FordHBCU.Com
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