DETROIT (FOX 2) – Big Sean is back in his hometown this weekend, this time helping young entrepreneurs from historically black colleges.

It’s a new competition called Moguls in the Making, where students compete for internships and scholarships.

“I’m just somebody truthfully that believes in giving back, you get what you give,” Big Sean said.

Detroit born rapper Big Sean hosted the new ideas competition in Detroit this weekend.

‘Moguls in the Making’ promotes financial literacy among students from historically black colleges and universities.

“Take out the entrepreneurs, the future business owners and give them a shot.”

He partnered with Ally Financial and the Thurgood Marshall College Fund for the nationwide competition.

500 applicants narrowed down to 50 came to Detroit for coaching sessions, then pitched ideas to a panel on how to help the city of Detroit.

“We feel like particularly with these colleges kids don’t get the same opportunities that a lot of other colleges and universities get,” Andrea Brimmer said, Ally Financial Chief Marketing and PR Officer.

The teams were judged by Big Sean himself Sunday evening.

“I’m just expecting great minds, great ideas in the pitch competition, and entrepreneurship at its finest really just black excellence to say the least,” he said.

The winning team will walk away with internships at Ally Financial, a $5,000 scholarship and new laptops.

“People sharing their information to the next generation, and onto the next, I just want to keep that going,” Sean said.

Big Sean says he’s committed to inspiring young people to do big things.

“If I can help somebody that gives my life way more purpose than just focusing on myself.”

Big Sean says this year has been so successful they want to make it an annual competition.

Posted by FOX 2 Detroit.