Pharrell Williams’ Black Ambition Announces 4th Annual Prize Competition, Application Portal Open Now

This 12 months’s Black Ambition Prize Competitors is sponsored by Adidas, Comcast NBCUniversal, Heineken, Lennar Basis, Louis Vuitton, and others.

Nationwide — At this time, Black Ambition, a corporation devoted to fostering the success of Black, Hispanic, and HBCU entrepreneurs, proudly publicizes its fourth annual Black Ambition Prize Competitors is now open for purposes for the 2024 prize cycle. The annual prize competitors serves as a platform for innovation and goals to bridge the racial wealth hole by empowering underrepresented founders. 2024 prize eligibility verticals embody expertise, healthcare, shopper services, media, and leisure and now introducing a brand new vertical this 12 months, Synthetic Intelligence. Apply now at blackambitionprize.com/apply-now/. The deadline has been prolonged to Could seventeenth, 2024.

Eligible ventures taking part within the Black Ambition Prize competitors have the chance to compete for awards starting from $20,000 to a grand prize of $1,000,000. As much as 250 semi-finalists can be chosen to take part in a 3-month cohort-based mentorship program, and one distinctive winner will obtain the celebrated $1,000,000 prize. To this point, Black Ambition has awarded practically $10 million to over 100 Black and Hispanic founders and has supported a further 750 entrepreneurs with mentorship to strengthen their ventures. Black Ambition community founders have raised greater than $95 million and generated greater than $23 million in income, and are touchdown offers with large field retail and being acknowledged for his or her management, with a number of founders named to the celebrated Forbes 30 Below 30.

“The Black Ambition Prize is greater than a contest; the year-round assist we offer our entrepreneurs-it’s a motion devoted to unlocking the potential of underrepresented entrepreneurs and reshaping the panorama of innovation. As we launch our fourth annual prize competitors, we reaffirm our dedication to empower various founders and to bridge the racial wealth and alternative gaps. Collectively, we’re getting these entrepreneurs the investments, sources and assist they want throughout a time when the other is occurring within the ecosystem,” mentioned Felecia Hatcher, CEO of Black Ambition

“I’m honored, that three years later we’re nonetheless capable of finding and fund these unbelievable entrepreneurs – who could not have had the chance to alter the world as they’ve with their modern corporations and concepts with out the assist of Black Ambition,” says Founder Pharrell Williams. “ To see what we now have created and proceed to construct on annually offers me immense hope for the long run in closing the chance and wealth gaps and establishing fairness for individuals of colour.”

Black Ambition’s dedication to founders extends past funding. The Black Ambitionist Mentorship Program is designed to cater to every founder’s particular business and desires. The transformative 3-month program gives entrepreneurs with invaluable entry to strategic relationships, tailor-made programming, and cutting-edge instruments. Throughout this system, lead mentors take cost of small teams of 6 to eight founders, guiding them by means of a complete Curriculum. Knowledgeable Particular Friends lead deep-dive periods that join founders throughout cohorts, addressing vital matters corresponding to constructing a group, monetary administration, fundraising, authorized concerns, go-to-market methods, partnerships, and rather more.

With a dedication to construct the trail to success early on for younger entrepreneurs at Traditionally Black Faculties and Universities (HBCUs), an 8-week HBCU pre-accelerator program can be launched the place as much as 10 prize winners can be chosen to take part in a digital pitch competitors for prize awards totaling $250,000. Functions for the pre-accelerator will open in June.

Together with the announcement of Black Ambition’s 4th annual prize competitors, the group has additionally introduced season 2 of their well-received “So Bold” podcast, hosted by Black Ambition CEO Felecia Hatcher. “So Bold” is a sequence about what’s potential when Black and Hispanic entrepreneurs can construct uninterrupted. From the tech founder to the inventive entrepreneur, “So Bold” tells the tales of the individuals constructing, creating, and organizing – in opposition to all odds, with authenticity, and in group. Esteemed friends vary from earlier Black Ambition prize winners to influential thought leaders of tomorrow. Watch and take heed to the primary six episodes obtainable now.

The Black Ambition Prize is a gateway to alternative, empowerment, and liberation. It helps Black, Hispanic, and HBCU-affiliated founders on their entrepreneurial journeys and equips them with the instruments and data to succeed, it doesn’t matter what could have been stacked in opposition to them. Entrepreneurial fairness might unleash a brand new period of enterprise development, hiring, and wealth for Black and Hispanic communities together with a brand new degree of options that serve these communities.

“The Black Ambition Prize not solely offered very important monetary assist but in addition opened doorways to merge particular training and luxurious. For a lot of households, having assist to navigate particular training is a luxurious, and we intention to supply that have by providing top-tier expertise benefits with out the wrestle. This method is made potential by means of Black Ambition’s intensive community, sources, and empowering group. With the assist of Black Ambition, we’re empowered to pursue our desires confidently, figuring out we now have a powerful group backing us each step of the way in which.” — Antoinette Banks, 2023 Black Ambition $1 Million Prize, Winner and Founder and CEO of Knowledgeable IEP

“For the primary time on this complete journey, I’ve lastly felt seen and heard…and that’s because of everybody at Black Ambition. I don’t know some other packages which might be like this one – that really take the time and care to totally assist in all aspects, Black and brown entrepreneurs.” — Camille Bell, 2022 Black Ambition $1 Million Prize, Winner and Co-Founding father of Pound Cake Cosmetics

“Individuals who assume that successful Black Ambition is concerning the prize cash have all of it mistaken. The community, the training, and the sources are a lot extra essential than the {dollars}. Being a part of this group has modified the trajectory of all of our lives right here at Livegistics. Everybody who’s a part of this course of will go away higher off than they got here. — Justin Turk, 2021 Black Ambition $1 Million Prize, Winner and Founder and CEO of Livegistics

AboutBlack Ambition empowers Black and Hispanic innovators and communities to excel, uninterrupted. Based by Pharrell Williams in 2020, Black and Hispanic-led development stage ventures in expertise, healthcare, shopper services, media and leisure, and Synthetic Intelligence are eligible to win as much as $1M. To this point, Black Ambition has educated roughly 750 founders and awarded practically $10M in development capital to 101 founders. Black Ambition’s endeavors have been acknowledged by Forbes, Essence, Advanced, and lots of extra for driving significant change. It additionally was the winner of Quick Firm’s 2021 World Altering Concepts award for Impression Investing and named considered one of Quick Firm’s 2022 Most Modern Firms. For extra info, please go to BlackAmbitionPrize.com

You should definitely observe Black Ambition on LinkedIn, Instagram, X, and Fb.

For media inquiries, contact Viveca Ortiz-Torres at Viveca.Ortiz-Torres@ledecompany.com