Grammy award-winning rapper,singer-songwriter, entrepreneur, producer and fashion designer Pharrell Williams, announced the launch of his new nonprofit called Black Ambition.
The organization is intended to help Black and Latino entrepreneurs reach their business goals. Williams stated, “We want to lift our HBCUs because they lift so many of us,” said Williams. “So, if we are going to do this, we need to do this together.”
Williams went on to say, “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,”
The Black Ambition organization follows The Black Ambition Prize competition, where entrepreneurs are provided with mentorship and the runner ups may win prizes as well. The grand prize winner will receive up to $1 million in funding.
The Black Ambition HBCU Prize, is a competition designed to support current and former HBCU students, winner of the grand prize will receive up to $250,000 in funding.
Applicants must be Black or Latino with a startup that focuses on tech, design, healthcare, and consumer products and services.