Pharrell Williams' Black Ambition Prize offers $1M to underrepresented entrepreneurs.
Pharrell is known to most people as a Superstar Entertainer, famous for mega hits like Happy, From “Despicable Me 2,” Feels (feat. Pharrell Williams, Katy Perry & Big Sean) Neon Guts (feat. Pharrell Williams) Frontin’ (feat. Jay-Z) Club Mix, & “Get Lucky” –Daft Punk feat. Pharrell.
In addition, Fashion iconPharrell Williams recently directed Louis Vuitton's Spring-Summer 2025 Men’s Collection, with the new campaign titled Le Monde Est à Vous (The World Is Yours).
Well, Pharrell is also becoming well known for sharing the fruits of his success and paying it forward, in a BIG way with his Black Ambition Prize. And the wonderful thing about the Black Ambition Prize is that it is not just about money … it’s also about mentorship, sharpening business skills and providing access to important business connections.
The Black Ambition Prize
Early-stage entrepreneurs in consumer products and services, healthcare, media and entertainment, technology, and artificial intelligence (AI) are invited to apply. Selected participants will receive 12 weeks of mentorship, business development support, and access to a robust network of investors and industry leaders through the Black Ambitionist Mentorship Program.
The competition starts with 150-200 semi-finalists chosen for a three-month mentorship program. From there, the top 40 founders head to a public voting round and pitch training, preparing them for the competition’s final stage.
The top 20 finalists will receive funding and get hands-on assistance with reworking their strategies, upgrading their pitches, and positioning their businesses for long-term success. Finally, at Black Ambition’s 5th Annual Demo Day in November, founders will have the chance to secure up to $1 million in funding, further strengthening the ecosystem of talented, underrepresented entrepreneurs driving meaningful impact.
You must apply as a team (with a minimum of two members). Eligible entrepreneurs will compete for awards between $20,000 to $100,000. 150-200 semi-finalists will be selected to participate in a 3-month Black Ambitionist mentorship program
2024 $1M Grand Prize Winner
Hill Harper was the host of the 2024 event that awarded one million first prize to first prize winner, Red Drop.
"Winning Black Ambition was more than just funding; it was a turning point that brought validation, opportunity, and a catalyst for growth. With their investment, we’ve been able to scale our vision, refine our strategy, and launch into new levels of success. The support from Black Ambition extends beyond capital—it encompasses mentorship, strategic workshops, and a vibrant community of visionary founders that fuels innovation and accountability.“
In the last five years, Black Ambition has awarded $13 million to 131 visionary entrepreneurs, with its founder network collectively raising over $280 million and generating more than $265 million in revenue. At the 2024 Demo Day, the organization granted nearly $2.7 million to 30 groundbreaking founders.
The Black Ambition Prize competition strengthens pathways to entrepreneurship, increases access to capital, expands pathways to growth, and highlights the talents of underrepresented founders.
Black Ambition seeks to support entrepreneurs from backgrounds that have historically been overlooked by venture capital funding. To be eligible to apply, a team must have at least one founding member from such a background, including, but not limited to, backgrounds such as Black/African/African American, Hispanic/Latino/Latina/Latinx, LGBTQ, parents with earned income below the poverty level, first-generation immigrants, first-generation college graduates, and those raised by a single parent. Founders from any background traditionally overlooked in venture capital funding may apply regardless of race.
Teams applying for the Black Ambition Prize must have at least one founder or co-founder, who identifies as an underrepresented founder. A member of the founding team is defined as having a C-Suite or VP-level role. Eligible ventures must be growth-ready companies that have not yet raised more than $1M in dilutive funding to date and innovating in:
Technology
Healthcare
Consumer Products and/or Services
Media and Entertainment
Artificial Intelligence
To learn more about the Black Ambition Prize, please visit their website.
