College and high school students have benefited nearly five years now through a partnership between Thurgood Marshall College Fund (TMCF), CNA Insurance (CNA) and Guidewire Software (Guidewire).
Most recently, 16 students from 11 universities competed in the second-annual HBCU Innovation Challenge in San Mateo, California. The three-and-a-half-day event included a case competition with emphasis on design-thinking, business modeling and pitch instruction. CNA and Guidewire personnel hosted panel sessions focused on careers in insurance and software development.
Winners of this year’s competition received scholarship awards and had the opportunity to meet with CNA and Guidewire’s executives and senior leaders. The top team earned the grand prize of $14,000 and each participant left with $1,000 each. Attending students also have the opportunity to apply for summer internships.
Rishoba Mundrati, program director on TMCF’s Innovation and Entrepreneurship (I&E) team, said the event increased its reach from last year. The number of students climbed from 12 to 16 and the number of campuses represented expanded from nine to 11.
Mundrati said it was important to her for students of historically Black colleges and universities (HBCUs) to experience Silicon Valley and visit Guidewire headquarters.
This partnership also provides opportunities for high school students. In 2021, the Early Innovators High School Pitch Competition (Early Innovators) began in Chicago at CNA headquarters. Since then, each year 12 to 16 students are sourced through The Academy Group, a Chicago-based nonprofit organization. Early Innovators is the sole high school pitch competition offered by TMCF.
Early Innovators is a three-day event for innovative students interested in intra- and entrepreneurship training. Rising high school juniors and seniors come together for a business pitch competition aiming to solve real-world challenges with innovative solutions. Students gain valuable experience in venture ideation, business model canvas, pitching and design thinking.
Participants also engage with executives, business leaders and corporate partners. Students also earn cash and tech prizes to assist them with post-high school plans. Each student received a virtual reality headset and cash awards during this competition.
“Our partnerships with CNA and Guidewire have a great impact on our students and provide great exposure and training for innovative thinking,” Dr. Harry L. Williams, president & CEO of TMCF, said. “Through these partnerships, we’re better able to prepare the next generation of workforce talent.”
Mundrati said the partnerships with CNA and Guideware are dynamic and have grown exponentially throughout the years.
“I take a lot of pride in the relationships we’ve built together,” she said.
The CEO of Guidewire, executive leadership from CNA and C-suite-level executives from both companies have been instrumental in building a strong partnership and making themselves available to students during the events for feedback and advice, Mundrati said.
“We love connecting with university students, people with a fresh perspective on technology and the insurance industry,” Mike Rosenbaum, CEO of Guidewire, said. “It’s a really energizing way to meet with people thinking about how they get started in their careers in technology.”
The 2025 Early Innovators competition is the fifth anniversary of the program. Mundrati said the aim is to mark the occasion in a grand way with surprises for participants and nods to the program’s beginnings in store.
“The fifth year anniversary for me, and for CNA, is an exciting way to mark our commitment to developing diverse talent in this space,” Jane Possell, executive vice president and chief information officer for CNA, said. “I hope first and foremost they get a taste for the insurance industry and they realize it’s actually a very rewarding and interesting place to be.”
Mundrati said the program has led to employment applications and summer internships for program participants, demonstrating the impact the partnership has on students.
