A Raleigh entrepreneur claimed the $100,000 grand prize in MillerCoors' Urban Entrepreneurs Series, an annual business plan contest for minority business owners.

Rex Wills will use the prize money for product development at his startup, Hi-Tek POS. The company, formed this year, makes inventory tracking software for the food, beverage and restaurant industry.

Hi-Tek beat out 200 competitors for the prize that MillerCoor has awarded since 1999. Four others won $25,000 runner-up prizes.