Pharrell Williams Is Helping Fund Black and Latinx Entrepreneurs

Pharrell Williams Is Helping Fund Black and Latinx Entrepreneurs

Pharrell Williams is continuing his part to help Black and Latinx creators get funded to pursue their dreams.

Black Ambition, a non-profit initiative founded by Williams two years ago, revealed today that applications for its annual prize competition are now open. If you’re a Black or Latinx creator that’s into the fields of consumer products and services, healthcare, media, entertainment, Web 3.0 or technology, you could enter for the chance to win.

Black Ambition isn’t just about giving the money to creators to make their dreams happen. It’s about developing a commitment to seeing these dreams come through with resources and mentors that’ll make it happen. The nonprofit’s network provides "access to both entrepreneurs and aspiring peers toward building a community committed to building the companies of tomorrow," according to a press release.

Black Ambition CEO Felecia Hatcher released a statement defining what the purpose of the organization is. “The epitome of Black Ambition is creating that environment," she said. "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."

To be eligible for the Black Ambition Prize, the venture has to feature at least one founder or cofounder that identifies as Black or Latinx. Grand prize winners will get $1 million and at least six different teams will get smaller prizes.

Last year was Black Ambition's inaugural prize cycle. It ended with 34 prize winners, 250 additional entrepreneurs that received mentorship, and over $3.2 million dollars awarded to finalists who have, collectively, raised more than $40 million in the time since.

"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,” Williams said in a statement. "That’s what Black Ambition is, it’s a vehicle for impact. At Black Ambition, we find you and then we fund you."

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