Black Ambition Prize
Black Ambition (Pharrell Williams Initiative)
Up to $1,000,000 total
Up to $1M for Black and Hispanic founders
Founded by Pharrell Williams in 2020, Black Ambition awards annual non-dilutive prizes totaling over $1 million to early-stage for-profit ventures led by Black and Hispanic founders. Eligible sectors include consumer products, healthcare, media and entertainment, technology, and AI. Ventures must have raised less than $1M in dilutive funding. Since founding, Black Ambition has awarded approximately $13 million to 131 entrepreneurs. Winners also gain access to a curated network of founders and business leaders.
- Funding type
- Grant
- Level
- Private
- Amount range
- $20,000 – $1,000,000
- Realistic amount
- Most recipients receive individual awards of $20,000–$100,000. The program typically funds up to 25 ventures per cycle f…
- Deadline
- Annual — applications typically open January through May. 2025 cycle closed May 9, 2025. 2026 dates not yet announced.
- Status
- between-intakes
- States
- Nationwide
- Payment model
- lump sum
Who qualifies
- At least one founding member must be from an underrepresented background: Black/African American, Hispanic/Latino, LGBTQ+, first-generation immigrant, first-generation college graduate, raised by a single parent, or with earned income below the poverty level
- For-profit venture in consumer products, healthcare, media and entertainment, technology, or AI
- Must have a demonstrated MVP or existing consumer base (working prototype or tested concept required)
- Less than $1 million raised in dilutive funding at the time of application
- Must be incorporated in the US, or intend to be legally incorporated in the US
- Applicants must be 18 years of age or older
Hard requirements
- Demographic eligibility: underrepresented
What it covers
Eligible expenses
- Product development and R&D
- Working capital and operations
- Marketing and customer acquisition
- Hiring and team building
- Technology infrastructure
- Any legitimate business expense
Ineligible expenses
- Personal expenses unrelated to the business
- Ventures that have raised more than $1M in dilutive funding
- Nonprofits (program is for for-profit ventures only)
How to apply
-
1
Submit online application
Apply at blackambitionprize.com/application. Submit a detailed description of your venture, founding team background, progress milestones, and funding history. The application also asks about social impact and market opportunity.
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2
Semifinalist selection and screening
Black Ambition reviews all applications and selects semifinalists for deeper review and interviews. Competition has multiple rounds with HBCU-specific and national tracks.
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3
Finalist pitch and Demo Day
Finalists pitch at the Black Ambition Demo Day & Fundable Founders Forum, typically held in November. Prizes are announced at the event. Winners gain access to the Black Ambition founder network.
This is non-dilutive — no equity given up. The HBCU track is a separate application pathway with its own prize, making it worth applying even for HBCU-affiliated founders with less traditional startup credentials.
Deadline & timing
The 2025 application cycle closed May 9, 2025; winners announced at the Demo Day & Fundable Founders Forum in November 2025. The 2026 cycle dates had not been announced as of May 2026. Subscribe to the newsletter at blackambitionprize.com for updates.
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Last reviewed 2026. GrantCompass is an independent funding-discovery tool and is not affiliated with any government agency. Always confirm details on the official program page.