Award-winning singer, songwriter and producer, Pharrell Williams, who can also be an entrepreneur, has introduced the launch of his new nonprofit referred to as Black Ambition. He stated the initiative goals to assist Black start-up founders attain their enterprise objectives.
“With Black Ambition, the aim is to assist strengthen the pipeline of gifted entrepreneurs and shut the chance and wealth gaps derived from restricted entry to capital and assets,” Williams stated in an announcement, noting that minorities within the U.S. have at all times encountered limitations to success however was much more emphasised by current occasions and tragedies.
According to that, the nonprofit created The Black Ambition Prize, a contest whereby chosen startup founders are supplied seed capital, pitch suggestions, and mentorship. A grand prize winner will obtain as much as $1 million in funding, whereas a minimum of 9 different groups obtain comfort prizes.
There’s additionally The Black Ambition HBCU Prize, which is especially for present and former HBCU college students, whereby the grand prize winners will obtain as much as $250,000 in funding.
Candidates for each prizes should be Black or Latino with a deal with tech, design, healthcare, and shopper services. Considered one of Black Ambition’s aim is “for inclusive entrepreneurship to be the brand new regular.”
Furthermore, Williams imagine that this system won’t solely assist entrepreneurs with recent concepts but in addition construct a robust partnership between them.
“We wish to raise our HBCUs as a result of they raise so many people,” stated Williams. “So, if we’re going to do that, we have to do that collectively.”
For extra details about Black Ambition and/or to hitch, go to blackambitionprize.com