Pharrell Williams is still “Happy” to continue helping Black entrepreneurs. His organization, Black Ambition, for the second year is giving way up to a million dollars to entrepreneurial ventures in products, services, media entertainment, healthcare, tech and Web 3.0.
The global superstar known for his music and songwriting credits is helping fund Black and Latino leaders and communities through his organization.
In addition to the traditional business funding, Black Ambition is giving students an opportunity for mentorship 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.
Last year, Williams’ organization funded over 250 entrepreneurs with $3.2 million. According to Black Ambition, those people earned over $40 million after receiving their prize. Some of the winners have also gone into business accelerator programs which had previously been hard to access.
“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,” Black Ambition CEO Felecia Hatcher said.
In 2022, two prizes are available at Black Ambition’s upcoming competition. The first will give $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 Historically Black College or University (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).
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 founding team member to have a senior position such as vice president or C-level role.
If you or someone you know would be interested in applying, you can do it here.