Pharrell’s Black Ambition to award over $2.7 million to next generation of Black and Hispanic entrepreneurs

Written by ABC Audio ALL RIGHTS RESERVED on November 7, 2024

Pharrell Williams‘ nonprofit Black Ambition is returning for its fourth annual Demo Day, during which over $2.7 million will be given to the winners of the 2024 Black Ambition Prize Competition.

The applicants were first narrowed down to 250 of the most compelling Black and Latinx entrepreneurs, then to 40 people who got pitch training and participated in a public voting competition. The top eight will pitch live onstage during Demo Day for a chance to win the grand prize of $1,000,000.

Other winners of the competition, including 10 people from the eight-week HBCU Pre-Accelerator program, aimed at funding innovators from HBCUs, will receive between $25,000 and $250,000.

A panel discussion with Pharrell and CEO Felecia Hatcher will also take place, with the focus on the next chapter of Black Ambition and their support for Black and Latinx founders. Guests will then have a chance to celebrate with a cocktail hour and network at a reception with VIPs and the founders of Black Ambition.

“Now in its 4th year, I’m so proud of the doors that have been opened and the many seats at the table that Black Ambition has helped to facilitate,” Pharrell said in a statement. “Each year, the pool of talented innovators, thought leaders and business owners grows, further affirming Black Ambition’s continued mission of unlocking the potential of underrepresented entrepreneurs.”

Since its inception in 2020, Black Ambition has provided over 30,000 diverse founders with support and resources to help them navigate their businesses. All award winners have access to corporate leaders, mental health workshops and life coaching. They can also attend town hall meetings alongside Pharrell.