Pharrell and his Black Ambition nonprofit are back for the second round of its prize competition.
Launched in 2020, Black Ambition is an initiative that grants funding, mentorship, and other powerful tools to African-American and Latinx entrepreneurs. This year’s application is officially opened to founders in media, consumer products, and services, entertainment, and healthcare.
There are two separate prize tracks: The Ambition Prize and The Black Ambition HBCU Prize. Current students and recent graduates of Historically Black Colleges and Universities are encouraged to apply for the latter track.
The competition will reward ventures between $25,000 to $1,000,000. To be considered, you must meet several criteria, which includes being legally incorporated in the United States, having raised less than $1 million in dilutive funding at the time of applying for the award, and must have a founding member that identifies as Black/African/African American and/or Hispanic/Latino/Latina/Latinx.
Livegistics founder Justin Turk, one of the 2021 Black Ambition Prize winners, says that while the money is helpful, the relationship with Black Ambition is priceless.
“The network, the education, the resources are so much more important than the dollars. Being part of this organization has changed the trajectory of all of our lives here at Livegistics,” Turk stated.
For the full eligibility information and how to apply for this year’s competition, visit blackambitionprize.com.
