As many organizations scale back their diversity, equity and inclusion efforts, Grammy-winning artist and entrepreneur Pharrell Williams is doubling down on his commitment to empowering underrepresented founders with the announcement of the 2025 Black Ambition Prize Competition.
A five-year legacy of impact
The Black Ambition initiative celebrates its fifth anniversary as a transformative force in the entrepreneurial landscape, having distributed approximately $13 million to 131 founders since its launch in 2020. The program maintains its core mission of closing wealth gaps by providing diverse entrepreneurs with essential resources to scale their businesses and reshape industries.
Pharrell reflected on Black Ambition’s evolution from concept to catalyst, emphasizing how the program has created new opportunities for underrepresented entrepreneurs to build ventures positioned for sustainable success. He indicated that despite the significant progress made, this represents only the beginning of their ambition to break barriers and rewrite established rules.
Beyond financial support
The 2025 competition will offer over $1 million in funding distributed among up to 25 innovative startups, but the program extends far beyond monetary investment. Selected participants will gain access to a comprehensive 12-week mentorship program powered by Cinematica Labs, delivering high-level guidance, business development support and connections to a network of investors and industry leaders.
This holistic approach addresses the various challenges underrepresented entrepreneurs face, providing them with both capital and the strategic resources necessary to navigate complex business environments and scale their ventures effectively.
Eligibility and application process
Early-stage entrepreneurs innovating across multiple sectors are eligible to apply for the 2025 Black Ambition Prize. The competition welcomes founders working in consumer products and services, healthcare, media and entertainment, technology and artificial intelligence.
The program specifically targets ventures with the potential to disrupt industries and create generational wealth, aligning with Black Ambition’s broader mission of fostering economic empowerment within underrepresented communities.
Community-centered approach
Felecia Hatcher, CEO of Black Ambition, described the organization’s fifth anniversary as proof of what becomes possible when vision, resilience and community converge. This perspective highlights the program’s emphasis on collective advancement and mutual support within entrepreneurial ecosystems.
Hatcher articulated a forward-looking vision centered on increasing impact and deepening connections, reinforcing the belief that uplifting individual entrepreneurs benefits entire communities. This community-centered philosophy distinguishes Black Ambition from traditional funding models by recognizing entrepreneurship as a vehicle for broader social transformation.
Culmination at demo day
The competition will reach its climax at Black Ambition’s 5th Annual Demo Day scheduled for November 2025, where selected founders will showcase their ventures to investors, industry experts and community stakeholders. This event represents more than a standard pitch competition, functioning as a celebration of visionary entrepreneurs reshaping industries.
Demo Day will feature the distribution of prizes totaling up to $1 million, providing crucial growth capital for ventures demonstrating exceptional potential. Past participants have used this platform to secure additional investment and partnership opportunities beyond the formal prize structure.
Contrasting landscape
The expansion of the Black Ambition Prize comes at a particularly significant moment when many corporations and institutions are reducing or eliminating their diversity, equity and inclusion initiatives. This contrast positions Pharrell’s program as an increasingly vital resource for underrepresented entrepreneurs who face diminishing support options elsewhere.
By maintaining and enhancing his commitment during this period of institutional retreat, Pharrell demonstrates a long-term dedication to addressing systemic barriers in entrepreneurship and wealth creation.
Application information
Applications for the 2025 Black Ambition Prize Competition are currently open to eligible entrepreneurs. Prospective applicants can find comprehensive information and submit their applications through the official website at blackambitionprize.com.
The selection process will evaluate ventures based on innovation potential, market opportunity, team capability and alignment with Black Ambition’s core mission of fostering economic empowerment within underrepresented communities.
Continuing momentum
As Black Ambition enters its fifth year, the program builds upon a foundation of demonstrated success in identifying and nurturing high-potential ventures. Previous prize recipients have achieved significant milestones in market expansion, capital raising and industry recognition.
This established track record enhances the credibility and appeal of the program for both entrepreneurs and potential partners, creating a virtuous cycle of engagement and impact that extends well beyond the direct financial investment.
