Black Ambition Prize Offers Pathway to Success for Black, Latinx Entrepreneurs
Black Ambition provides a pathway to success for Black and Latinx entrepreneurs who are launching early-stage tech, design, healthcare, and consumer products and services start-ups. Black Ambition, created by visionary recording artist, producer, songwriter, philanthropist, fashion designer, and entrepreneur Pharrell Williams, is committed to leveling the playing field and fostering the ingenuity, determination, and resilience of these underrepresented entrepreneurs. As part of their launch, they are announcing the Black Ambition HBCU Prize.
The Black Ambition Prize provides a platform for eligible applicants to access growth capital, pitch feedback, and mentorship. Black & Latinx founders building across distinct categories should apply.
The Black Ambition HBCU Prize contains two tracks – the Business Concept track and the Early Business track. The eligibility criteria and funding levels are different for each track, but entrepreneurs in both tracks will be eligible for mentorship and other forms of support.
- The Black Ambition HBCU Business Concept track is for ventures that have not raised any revenue or dilutive funding to date. This category is for projects that have identified a unique and relevant challenge. The team has ideas to frame better solutions towards solving that challenge, or set of challenges. These ventures will compete for up to $50,000 in funding.
- The Black Ambition HBCU Early Business track is for ventures that have raised no more than $1M in dilutive funding to date. This category is for projects that have shown progress against the venture concept (tested the concept, working prototype, minimum viable product). These ventures will compete for up to $250,000 in funding.
Teams must include at least one current 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 or Latinx.
Black Ambition recognizes HBCUs are vital engines of economic opportunity with important legacies. By tapping into the vibrant and brilliant HBCU community, the organization will help to fund high potential ideas with capital that can spark and support the next generation of successful entrepreneurs.
Visit BlackAmbitionPrize.com for more information.