NEW YORK, March 1, 2025 — Black Ambition, the non-profit organization founded by Pharrell Williams, announced today they are now accepting applications for the 2025 Black Ambition Prize Competition. Grounded firmly in the belief of closing the wealth gaps and strengthening the pipeline of underrepresented founders, the organization continues to provide underrepresented entrepreneurs with the capital, mentorship, and resources necessary to scale their ventures and transform industries. With more than $1 million in funding for up to 25 applicants, Black Ambition is unwavering in its commitment to breaking down barriers and empowering the success of underrepresented founders.
“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,” says Felecia Hatcher, CEO of Black Ambition.
The competition is open to early-stage entrepreneurs innovating in consumer products & services, healthcare, media and entertainment, technology, and Artificial Intelligence (AI). Selected founders will embark on a 12-week transformative journey, gaining high-level mentorship, business development support, and access to an influential network of investors and industry leaders through the Black Ambitionist Mentorship Program powered by Cinematica Labs.
“The road ahead is one of greater impact, deeper connection, and an unwavering belief that when we uplift one, we uplift all,” continues Hatcher. “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.”
Throughout the program, participants will refine their strategies, sharpen their pitches, and position their businesses for long-term success. The journey culminates at Black Ambition’s 5th Annual Demo Day in November, where founders will have the opportunity to receive up to $1M+ in funding, further expanding the ecosystem of talented, underrepresented founders making an impact.
“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.. when we invest in diverse talent, we unlock limitless potential,” says Pharrell Williams, Founder of Black Ambition. “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 Black Ambition Prize Competition begins with 150-200 standout semifinalists selected for a three-month mentorship program, equipping them with invaluable insights, strategic guidance, and access to influential business leaders. The top 40 founders will then advance to a public voting round and pitch training, ensuring they are well-prepared for the final stage of the competition. The top 20 finalists will receive funding and select founders will receive pitch deck design support and pitch coaching from industry experts.
Black Ambition redefines what it means to win. While traditional prizes focus solely on cash awards, Black Ambition’s prize competition provides a comprehensive suite of resources—including high-caliber networking events, immersive mentorship, and tailored strategic support—collectively valued at over $1M. For participants, this is a gateway to unparalleled industry access, high-impact learning, and strategic partnerships that elevate startups to new heights.
“Winning Black Ambition was more than just funding; it was a turning point that brought validation, opportunity, and a catalyst for growth,” said Dr. Monica Williams, CEO and Founder of RedDrop and 2024 Black Ambition Prize winner. “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.”
Since its inception in 2020, Black Ambition has awarded approximately $13 million to 131 visionary entrepreneurs, with its founder network collectively raising over $280 million and generating more than $265 million in revenue. At the 2024 Demo Day, Black Ambition awarded approximately $2.7 million to 30 groundbreaking founders. The 5th Annual Demo Day will continue this legacy, spotlighting the next wave of visionary leaders and catalyzing real change in the business landscape.
Applications for the 2025 Black Ambition Prize Competition are now open. For more information and to apply, visit www.blackambitionprize.com.