Pharrell Williams announces non-profit initiative to amplify Black, Latinx entrepreneurs

Grammy winner Pharrell Williams has launched a non-profit initiative named Black Ambition, which aims to provide a platform for Black and Latinx entrepreneurs looking to launch start-ups in tech, design, healthcare, and consumer products/services. Williams said he was inspired to start the initiative as he wanted to amplify the voices of the underserved communities, reported Variety. "We need a voice.

Grammy winner Pharrell Williams has launched a non-profit initiative named Black Ambition, which aims to provide a platform for Black and Latinx entrepreneurs looking to launch start-ups in tech, design, healthcare, and consumer products/services. Williams said he was inspired to start the initiative as he wanted to amplify the voices of the underserved communities, reported Variety.

"We need a voice. We have the smallest slice of the American pie, in terms of ownership. The Asian dollar stays in this community for about 30 days; our Jewish brothers and sisters, their dollar stays in every community for 20 days. The African-American dollar stays in its community for six hours, because we don't own much. "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 "Happy" hitmaker said at a press conference.

Williams, 47, also announced two prize competitions - the Black Ambition HBCU Prize and the Black Ambition Prize - at part of the launch. "Recent events and tragedies have illustrated the always existent stark divisions in the American experience, and while entrepreneurship has long been a tenet of the American dream, marginalised people have faced long-standing barriers to success," he added. The Black Ambition HBCU Prize offers prizes and mentorship for current and former students at HBCU stands for Historically black colleges and universities (HBCUs) as they develop seed or early-stage ideas and launch companies. The grand prize winner will receive up to USD 250,000 and at least nine additional teams will receive smaller prizes.

The prize will launch with a nationwide call for applications from eligible founder teams..

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