Pharrell Williams’ nonprofit organization Black Ambition has distributed $13 million to underrepresented founders since its inception.
The nonprofit currently is launching its fifth Black Ambition Prize Competition, which will award early-stage entrepreneurs in industries such as consumer products and services, health care, media and entertainment, technology, and artificial intelligence (AI).
Participants will have a chance to receive more than $1 million in funding. Further support will be provided over 12 weeks through mentorship, business development support, and access to its network of investors and industry leaders through the Black Ambitionist Mentorship Program in partnership with Cinematica Labs. According to information shared with AFROTECH™, $13 million has been awarded to 131 entrepreneurs since 2020. Additionally, the organization’s founder network has raised $280 million and generated over $265 million in revenue.
“Five years ago, Black Ambition was an idea,” Williams said in a news release. “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, positioning themselves for uninterrupted success. When we invest in diverse talent, we unlock limitless potential. But this is just the beginning. Let’s keep building, keep breaking barriers, and keep rewriting the rules. I can’t wait to see what we do in the next five years.”
Past recipients of the Black Ambition Prize Competition include 2021 winner Courtney Williams, who is creating better maternal health outcomes through The Journey Pregnancy App. In 2024 the grand prize was awarded to Dr. Monica Williams and Dana Roberts, co-founders of RedDrop, a brand making period kits accessible to young girls.
“Winning Black Ambition was more than just funding; it was a turning point that brought validation, opportunity, and a catalyst for growth,” Dr. Monica Williams expressed in a news release. “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.”
The Black Ambition Prize Competition is back in full swing, with its culminating event, Demo Day, set for November 2025. To start, between 150 and 200 semifinalists will be chosen for a three-month mentorship program. Then, 40 will advance to a public voting round and receive pitch preparation. The top 20 will be awarded funding, and selected winners will receive additional support, including pitch deck design assistance and coaching from industry leaders.
“Black Ambition’s fifth anniversary is more than a milestone—it’s proof of what happens when vision, resilience, and community come together. It’s a testament to what’s possible when we invest in each other,” Felecia Hatcher, CEO of Black Ambition, explained in the news release. “What started as a mission to close the wealth and opportunity gap has grown into a global movement, proving that underrepresented founders don’t just belong in the room—they are redefining the game.”
She added, “The road ahead is one of greater impact, deeper connection, and an unwavering belief that when we uplift one, we uplift all. To every entrepreneur, every dreamer, and every changemaker—we see you, we celebrate you, and we are building with you. The journey continues, and one truth remains: We got us. And we are just getting started.”
To apply, click here.
