Pharrell Williams continues to pour into Black entrepreneurs and Historically Black Colleges and Universities (HBCUs).
Founded by the global superstar, Black Ambition is returning for its second year to foster Black and Latinx leaders and communities. Entrepreneurs with ventures in products and services, media and entertainment, healthcare, technology, and Web 3.0 are encouraged to apply for a chance to win up to a million dollars. In addition to funding, students will be provided mentorship, resources, and “founder-friendly investment terms.”
“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.
In 2021, Black Ambition supported over 250 entrepreneurs and awarded over $3.2 million to support their endeavors. What’s more, entrepreneurs from the competition continued to soar, earning over $40 million after receiving a Black Ambition Prize. As AfroTech previously told you, Mya Havard was one of the previous winners rewarded for her startup Shea.d.
“The epitome of Black Ambition is creating that environment. 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,” Felecia Hatcher, CEO of Black Ambition, said in a press release.
Receive Up To $100K With Black Ambition HBCU Prize
Two prizes will be up for grabs at the upcoming competition.
The first, which is the Black Ambition HBCU Prize, will allocate $100,000 toward the grand prize winner and offer seven additional teams smaller prizes.
To be eligible, team members must have:
- At least one current HBCU undergraduate or graduate student (full-time or part-time).
- One recent alum within two years of graduation, or one former student within two years of attending the institution who is a member of the founding team (This HBCU-affiliated individual must identify as Black/African/African American and/or Hispanic/Latino/a/Latinx).
Black Ambition Prize Will Total One Million Dollars
The second, which is the Black Ambition Prize, will offer one million dollars to one founder or co-founder and up to six teams will secure smaller prizes.
To be eligible, entrepreneurs must have:
- A seed early-stage company in consumer products and services, media and entertainment, healthcare, technology, and Web 3.0 (Ventures must have at least one founder or co-founder that identifies as Black/African/African American and/or Hispanic/Latino/a/Latinx).
Both prizes will require a member of the founding team to have a senior position such as vice president or C-level role.
For those interested in applying, click here.