What is the Black Ambition Prize?

Black Ambition is a non-profit initiative working to close the opportunity and wealth gap through entrepreneurship. We invest capital and resources in high-growth startups founded by Black and Latinx entrepreneurs. We believe entrepreneurs historically left out of traditional investment funnels are building the companies of tomorrow.

The Black Ambition Prize provides a platform for eligible entrepreneurs to access growth capital, pitch feedback, and mentorship. Eligible applicants consist of Black and Latinx founders building across these distinct categories:

Consumer Products and Services — Design — Healthcare — Tech

Black Ambition’s goal is to fund bold ideas, and to help reduce barriers to capital. Black and Latinx entrepreneurs will be eligible to receive mentorship and win up to $1,000,000 in funding.

Black Ambition recognizes HBCUs are vital engines of economic opportunity with important legacies. By tapping into the vibrant and brilliant HBCU community, we will help to fund high potential ideas with our capital that can spark and support the next generation of successful entrepreneurs. The Black Ambition HBCU Prize contains two tracks – in one, entrepreneurs will be eligible for up to $50,000 in funding and in the other, entrepreneurs will be eligible for up to $250,000 in funding. Entrepreneurs in both tracks will be eligible for mentorship.

“These are the founders I dreamed would represent Black Ambition,” Pharrell said in a statement . “Today we celebrate their determination, resourcefulness, and creativity. Because of Black Ambition, the world will be much more equitable. More people of color can pursue their ventures and get what they need to thrive. There’s been too much disparity and discrimination. Black Ambition will continue to create and push for more seats at the table, so that your talent, not your color, determines your results.” 

As part of the launch, Williams announced in December 2020 two prize competitions – The Black Ambition HBCU Prize and The Black Ambition Prize – which culminated in one major national event. 

“We know that entrepreneurship has been baked into the Black and Latinx communities because we’ve always had to be builders,” said Hatcher during the virtual press conference. “By doing this now, we are setting the stage for a much more equitable, sustainable, and better world for all of us in coming years.” 

“As an entrepreneur, Life will punch you in the gut, if it hasn’t already been,” said Hatcher. “But I want to encourage you to keep going. Tell yourself that I’m going to find the solutions needed to make a change one way or another.”   

Pharrell Williams

“With Black Ambition, the goal is to help strengthen the pipeline of talented entrepreneurs and close the opportunity and wealth gaps derived from limited access to capital and resources.”

Pharrell Williams is a visionary recording artist, producer, songwriter, philanthropist, fashion designer, and entrepreneur. He has been a creative force in the music industry and beyond for more than two decades.

Here is where to apply for the prize : https://blackambitionprize.com/