Pharrell Announces Nonprofit To Boost Black And Latin Startups

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Virginia Beach native Pharrell Williams has teamed up with historically black colleges and universities (HBCUs) and with several big corporate names to launch Black Ambition, a nonprofit seeking to help provide support to black and latinx startups.

Focusing on several areas (tech, design, healthcare, and consumer products/services) the initiative will be offering two prizes. The Black Ambition Prize awards up to $1,000,000 to black and latinx entrepreneurs, while the Black Ambition HBCU Prize offers two awards (up to $50,000 or up to $250,000) to startups formed by current and recent HBCU students. Pitching in to help  will be heavyweights like Chanel, Adidas, The Visa Foundation, and The Rockefeller Foundation.

From a video on the website:

Black Ambition's vision is a future where ideas flourish, ruinous risk is alleviated, and Black and Latinx entrepreneurs are positioned to transform the American landscape. Adidas and iamOTHER have come together in partnership with Black Ambition to support the business ideas of communities who have most often been excluded.

In Hampton University’s release, they state, “Black Ambition provides a bridge to success for Black and Latinx entrepreneurs who are launching tech, design, healthcare, and consumer products/services start-ups.” Hampton University is one of two local HBCUs (along with Norfolk State University), with five total in the state (Virginia State University, Virginia Union University, and Virginia University of Lynchburg).

For more info and to learn how to apply, visit the website and follow on Facebook at @blackambitionprize.

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