A new non-profit organization called “Black Ambition” has just been announced by musician Pharrell Williams. Williams outlined that he was motivated to build this non-profit initiative following his witnessing of the outrage and civil unrest that occurred earlier on in the 2020.
The Black Ambition initiative seeks to provide support to Black and Latinx entrepreneurs who are developing their own startups in the consumer product, design, healthcare, services and tech. Pharrell had this to say at a press conference: “We need a voice,” said the “Happy” performer. “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.”
Black Ambition aims to strengthen the “pipeline of talented entrepreneurs and close the opportunity and wealth gaps,” via offering a Black Ambition HBCU Prize. Students or Alumni who are currently enrolled that identify as African, African American, Black, Hispanic or Latinx will have the chance to make a pitch in favor of their companies.
The company that is selected will receive $1 million USD while the 9 close submitters will be provided with smaller amounts of funding. The non-profit has gained support from other organizations and public figures as well, such as adidas, Bridgespan Group, Chanel and Virgil Abloh who was responsible for the creation of the Black Ambition Logo
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