AHBAI sponsored a $30,000 Scholarship Contest for students at the 112 historically Black colleges and universities. Two students from each school won a registration to the third annual AHBAI Entrepreneurial Leadership Conference, November 7-9, 1997 at Dudley Products, Inc. corporate headquarters in Kernersville, N.C. (near Greensboro). At the conference, students had the opportunity to win scholarship prizes up to $5,000.

The conference featured the presidents and key executives from multi-million dollar African-American owned hair care corporations. Sessions at the conference, presented by representatives from AHBAI member companies, focused on topics such as "Enterpreneurial Opportunities in the African-American Market" and "The Realities of Establishing and Operating a Small Business" and "The Challenges and Rewards of Student Entrepreneurship." The students also worked in small groups, brainstorming ideas with potential to succeed in the African-American market.

A highlight of the event was the keynote address by Essence Communications, Inc. Co.-Founder and President Clarence Smith. Smith stressed to students, "Empowerment is the right to control your lives and to determine your destiny. There is power in knowledge and empowerment in education."

"For the students it was a unique opportunity to interact with the most prosperous African-American entrepreneurs in the world who are truly out there making a difference," said Geri Duncan Jones, AHBAI Executive Director. "This experience was an invaluable first-hand lesson to them about how supporting African-American businesses is so important in strengthening our community."

Based on essays submitted, judges selected three semi-finalists from each school, with each first and second place semi-finalist earning the opportunity to attend the conference. Each participating student received a $100 scholarship and competed for the sixteen grand prize scholarships at the conference, which ranged from $250 to the first prize of $5,000. The eight Grand Prize Winners are the following students:

First Place - $5,000
Aisha Anderson
Spelman College

Second Place - $2, 500
VaShaun Harper
Albany State University

Third Place - $1,000
Sacoby Wilson
Alabama A&M University

Sedric Johnson
Howard University

Fourth Place - $500
Lola Kelly
Claffin College

Sakinna Thomas
Prairie View A&M University

LeTonya Washington
North Carolina A&T University

Teilo Baldwin
Alcorn State University

AHBAI Chairman Michael W. Joshua, president of J.M. Products, Inc. has high hopes for the students. "Some of them will go on to engage in their own businesses. Some will become outstanding employees show are moving up the corporate ladder," he predicts. "I want to see them mount an economic empowerment movement for African-Americans and Africans."