Black Ambition, the nonprofit founded by Pharrell Williams, has officially opened applications for the 2025 Black Ambition Prize Competition. The organization is continuing its mission to close wealth gaps and uplift underrepresented entrepreneurs.

This year, more than $1,000,000 in funding will be available for up to 25 applicants, while also offering participants capital, mentorship, and resources needed to scale their businesses and redefine industries.

“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, positioning themselves for uninterrupted success,” Williams stated in a press release reflecting on the organization’s impact. “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.”

The competition is open to entrepreneurs pioneering in consumer products and services, healthcare, media and entertainment, technology, and Artificial Intelligence (AI). Selected founders will embark on a 12-week program designed to refine their business strategies, enhance their pitches, and connect with an influential network of investors and industry leaders through the Black Ambitionist Mentorship Program, powered by Cinematica Labs.

The competition will kick off with 150-200 standout semifinalists entering a three-month mentorship program that provides strategic guidance and direct access to business leaders. From there, the top 40 founders will move on to a public voting round and intensive pitch training, preparing them for the final stages of the competition. Ultimately, the top 20 finalists will receive funding, with select entrepreneurs benefiting from pitch deck design support and expert coaching to further position their businesses for success.

“Black Ambition’s fifth anniversary is more than a milestone—it’s proof of what happens when vision, resilience, and community come together,” stated Felecia Hatcher, CEO of Black Ambition. “It’s a testament to what’s possible when we invest in each other. 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.”

Black Ambition’s 5th Annual Demo Day set to take place in November.

Last year’s event saw a stunning display of innovation and empowerment for Black and Brown businesses, with the grand prize of $1,000,000 being awarded to Dr. Monica Williams and Dana Roberts, co-founders of RedDrop. Their groundbreaking menstrual kits for tweens educate, empower, and support young girls during a pivotal and scary phase of their lives.

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“We’re beyond thrilled to be the grand prize winners of this year’s Black Ambition Prize Competition!” Dr. Williams exclaimed at the time. “This funding is life-changing and will open doors that were previously closed. The mentorship and network provided by Black Ambition are priceless—we’re not just getting a seat at the table; we’re building our own.”

Following the announcement of winners, Pharrell spoke with VIBE where he gave indelible gems on how to bridge the gap between aspiring young minority business owners and the resources available to them.

“I think that young Black and Brown ideas and businesses lack the mentorship,” he began. “So really, handy scaffolding that one would need when launching a business, or having a start up. There’s lack of interconnectivity and the power of interconnectivity that you get from when you galvanize. The answer to your question is Black Ambition. This is the place where you can come and you can galvanize and you can be a part of a village, a part of a beehive—people who all have very similar ambitions to yours. Black Ambition is a place where you can get these things.”

“Every successful demographic in this nation, they’re successful because they first galvanized,” he added. “When all you literally have to do. Then they talk to each other and mentor each other. It is time that we do that. The minute that we do that, it will be our day.” See below.

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