Pharrell Williams‘ Black Ambition, a non-profit organization dedicated to closing wealth gaps and strengthening the pipeline for underrepresented founders, has announced that applications are now open for the 2025 Black Ambition Prize Competition. This year, the competition will offer over $1 million in funding for up to 25 early-stage entrepreneurs in various fields, including consumer products & services, healthcare, media & entertainment, technology, and Artificial Intelligence (AI).
Empowering Entrepreneurs for Industry Transformation
Founded with the mission to support underrepresented entrepreneurs, Black Ambition provides access to capital, mentorship, and resources necessary for business growth and innovation. Selected founders will embark on a 12-week journey, receiving high-level mentorship, business development support, and connections to investors and industry leaders through the Black Ambitionist Mentorship Program.
In his announcement, Pharrell Williams expressed his excitement about the competition, stating, “Five years ago, Black Ambition was an idea. Today, it’s a force. A catalyst for change. A platform where underrepresented entrepreneurs don’t just get a seat at the table—they build new tables.” Williams emphasized the importance of investing in diverse talent to unlock limitless potential and highlighted the continued growth of Black Ambition as a powerful force for change.
A Testament to Vision, Resilience, and Community
As Black Ambition celebrates its fifth anniversary, CEO Felecia Hatcher shared that the organization’s growth reflects the power of investing in underrepresented founders. She said, “It’s a testament to what’s possible when we invest in each other…underrepresented founders don’t just belong in the room—they are redefining the game.”
Since its founding in 2020, Black Ambition has awarded approximately $13 million to 131 entrepreneurs, raised over $280 million, and generated $265 million in revenue. In 2024, the organization awarded $2.7 million to 30 entrepreneurs, showcasing its ongoing commitment to fostering innovation and economic empowerment.
Apply Now for the 2025 Competition
The 2025 Black Ambition Prize Competition is now accepting applications. Early-stage entrepreneurs from various industries are encouraged to apply. For more details and to submit an application, visit www.blackambitionprize.com.
