If you are a Black or Latino creator in the fields of consumer products and services, healthcare, media, entertainment, Web 3.0, or technology, this news is for you.
Black Ambition, a nonprofit initiative founded by Pharrell Williams two years ago, today revealed that applications for its annual awards competition are now open.
According to a press release, the nonprofit’s network provides “access to both entrepreneurs and aspiring peers toward building a community committed to building the companies of tomorrow.”
We are working towards closing the opportunity and wealth gap through entrepreneurship. We invest capital and resources in high-growth startups founded by Black and Latinx HBCU students and entrepreneurs.
This is #BlackAmbition .•*https://t.co/2oHOpl7sht pic.twitter.com/7UicEXdsMD
— Black Ambition (@blackambitionpz) December 2, 2020
“The epitome of Black Ambition is creating that environment,” CEO Felecia Hatcher said in a statement. “We are building a scaffolding where whatever stood in the way before or interrupted those dreams will never stand in the way again. We are creating environments where Black and Latinx founders are never interrupted again.”
Pharrell Williams and Black Ambition CEO, Felecia Hatcher, spoke with @CarolineHydeTV about Black Ambition, a non-profit that aims to bring startup capital and mentorship to minority entrepreneurs https://t.co/a6N3fG5xun pic.twitter.com/RDnt2jQ2Ty
— Bloomberg TV (@BloombergTV) March 22, 2022
To be eligible for the Black Ambition Prize, a company must have at least one founder or co-founder who identifies as Black or Latino. The grand prize winners will receive $1 million, and at least six different teams will win smaller prizes.
As explained by AfroTech, in 2021, the initiative supported more than 250 entrepreneurs and awarded more than $3.2 million to support their efforts. What’s more, entrepreneurs in the competition continued to rise, earning more than $40 million after receiving an award from Black Ambition.
“When you realize how lucky you are to be in the constellation of the universe and when you learn how it really works, you stop buying vehicles, and you create vehicles to drive you. That’s what Black Ambition is; it’s a vehicle for impact. At Black Ambition, we find you, and then we fund you,” Williams said, according to a press release.
Read more about Black Ambition’s award applications here.