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In early December, Pharrell Williams announced the launch of Black Ambition — a nonprofit incubator that funds and supports Black and Latinx entrepreneurs who are launching startups in tech, design, healthcare and consumer products. With the launch, Williams also announced two prize funds to be awarded including the Black Ambition Prize and the Black Ambition HBCU Prize.
The goal of the Black Ambition Prize is to reduce barriers to capital and provide up to $1 million in funding. The Black Ambition HBCU Prize contains two options — one will offer up to $50,000 in funding and the other up to $250,000.
– Katie Cline, The Atlanta 100