Pharrell’s non-profit initiative Black Ambition has announced its third annual prize competition to celebrate aspiring Black and Hispanic entrepreneurs.
Applications for the competition opened on Wednesday via the Black Ambition website, and will close on May 8, 2023. The iinitiative—which is backed by brand partners including Adidas, Heineken, and the Visa Foundation—will provide winners of the competition prize with a monetary reward, mentorship, resources, and connections to further investors and funding. The awardees will also get the opportunity to receive bi-weekly meetings with leading names in brand building, PR, and marketing at companies such as Netflix and Snapchat.
"We've accomplished so much in such a short time, and it's been amazing to see our impact so far. Every year just gets better," said Black Ambition founder Pharrell Williams. "It's not just about creating space for our Black, Hispanic and HBCU entrepreneurs, it's about equity, it's about giving them the tools, resources and hands-on mentorship to excel uninterrupted. I am constantly blown away by the ideas and businesses that our applicants have developed and created."
To be eligible for the competition, applicants will need a product or service they wish to expand the reach of, and have at least one founder who is Black or Hispanic. The grand prize winner will get $1 million, while 15 other teams will receive prizes ranging from $15,000 to $250,000. In addition to the announcement of the third annual prize competition, Black Ambition has announced it is sponsoring the 8-week So Ambitious HBCU Pre-Accelerator Program, which seeks to bolster the efforts of up to 100 HBCU students who seek to enter the Black Ambition Prize competition.