Singer and entrepreneur Pharrell Williams launched his latest initiative with his new project Black Ambition, a non-profit that focuses on helping Black and Latinx entrepreneurs in the consumer products, design, tech, services, and healthcare sectors.
Black Ambition is focused on narrowing the capital access and community wealth gap for Black and Latinx founders.As part of our launch, we are announcing two prize competitions – The Black Ambition Prize and The Black Ambition HBCU Prize.
To apply: https://t.co/2oHOpl7sht pic.twitter.com/5Zt7MIyTCS
— Black Ambition (@blackambitionpz) December 2, 2020
Pharrell expressed his thoughts and reasoning for this project with:
“Recent events and tragedies have illustrated the always existent stark divisions in the American experience, and while entrepreneurship has long been a tenet of the American dream, marginalized people have faced long-standing barriers to success … 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’s statements comes with the announcement that Black Ambition will be partnering with HBCU’s across United States to instate a Black Ambition HBCU Prize, which will offer cash prizes along with mentorship and guidance for current and former HBCU students, that would be used to fund seed or early-stage start-ups. While the top prize would be for $250,000, the remaining top 10 will also be awarded smaller cash prizes.
Applications are currently open and under review for the Black Ambition HBCU Prize. The eligibility requirements ask that all teams include at least one current HBCU undergrad or grad student, and once recent HBCU alum or former student within two years of graduation or attending the school.
Williams further added; “We have to support our Black institutions. They have done so much for us. Even if I didn’t go myself, I’ve seen the wonders that genius educators impart on those students.”
You can reach more information about Black Ambition on https://blackambitionprize.com