Pharrell Williams has announced the launch of his new non-profit initiative called Black Ambition. After witnessing the civil unrest that swept the nation earlier this year, the multi-hyphenate explained the motivation to create the initiative.
“We need a voice,” said Pharrell at a press conference. “Because we don’t have enough of the market share our kids end up having issues with disproportionate access to health care disproportionate access to education. And as a culture, we have disproportionate access as it pertains to legislation and representation.”
The main goal of the initiative is to support Black and Latinx entrepreneurs who are working on launching startups in the fields of tech, design, consumer products, healthcare, and services.
In hopes to fortify the “pipeline of talented entrepreneurs and close the opportunity and wealth gaps,” the initiative is offering a Black Ambition HBCU Prize, which will be awarded to Alumni or students who have currently enrolled and who identify as Black, African, African American, Hispanic or Latinx. They will have a chance to make a pitch for their companies and the selected company will receive a prize of $1M, while nine other close contenders will be given smaller funds. Black Ambition has gotten support from others, too, like Bridgespan Group (a global NGO), adidas, Chanel, and Virgil Abloh, who designed Black Ambition’s logo.
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