Pharrell’s Black Ambition Nonprofit Opens Applications for 5th Annual Prize Competition
Black Ambition, the nonprofit founded by Pharrell Williams, has officially opened applications for the 2025 Black Ambition Prize Competition. The organization continues its mission to close wealth gaps and uplift underrepresented entrepreneurs.
This year, over $1,000,000 in funding will be awarded to up to 25 applicants, alongside capital, mentorship, and essential resources to help 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. “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.”
A Transformative Opportunity for Entrepreneurs
The competition is open to entrepreneurs in consumer products and services, healthcare, media and entertainment, technology, and Artificial Intelligence (AI). Selected founders will participate in a 12-week program to refine their business strategies, enhance their pitches, and gain access to influential investors and industry leaders through the Black Ambitionist Mentorship Program, powered by Cinematica Labs.
The competition will begin with 150-200 standout semifinalists entering a three-month mentorship program. From there, the top 40 founders will advance to a public voting round and intensive pitch training, preparing them for the final stages. Ultimately, the top 20 finalists will receive funding, with select entrepreneurs gaining pitch deck design support and expert coaching to position their businesses for long-term success.
Black Ambition’s Impact and 5th Annual Demo Day
Felecia Hatcher, CEO of Black Ambition, emphasized the significance of this milestone, stating:
“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. 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.”
The 5th Annual Black Ambition Demo Day is set for November 2025, where the top finalists will present their business ideas.
Last year’s event showcased groundbreaking innovation from Black and Brown businesses. The $1,000,000 grand prize was awarded to Dr. Monica Williams and Dana Roberts, co-founders of RedDrop, for their innovative menstrual kits for tweens, aimed at educating and empowering young girls.
“We’re beyond thrilled to be the grand prize winners of this year’s Black Ambition Prize Competition!” Dr. Williams shared. “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.”
Pharrell on the Importance of Mentorship and Collaboration
Following the 2024 competition, Pharrell Williams spoke with VIBE, sharing insights on bridging the gap between aspiring minority business owners and the resources they need.
“I think that young Black and Brown ideas and businesses lack mentorship,” he explained. “So really, handy scaffolding that one would need when launching a business or having a startup. There’s a lack of interconnectivity and the power that comes from galvanizing together.”
“Every successful demographic in this nation thrives because they first galvanized,” Pharrell added. “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.”
Applications for the 2025 Black Ambition Prize Competition are now open, offering a life-changing opportunity for underrepresented founders to elevate their businesses and transform industries.
