Jeff Kravitz/FilmMagic”Happy” singer Pharrell Williams is helping more Black and Latinx entrepreneurs succeed thanks to his new non-profit initiative, Black Ambition, which he launched Wednesday.
“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,” the organization states.
Speaking with Variety, Pharrell explained what inspired him to launch his new endeavor.
“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, marginalized people have faced long-standing barriers to success,” he explained.
The 47-year-old singer says the goal of Black Ambition is “to help strengthen the pipeline of talented entrepreneurs and close the opportunity and wealth gaps derived from limited access to capital and resources.”
Along with his non-profit, Pharrell also teamed with Historically Black Colleges and Universities to launch the The Black Ambition HBCU Prize and The Black Ambition Prize.
The Black Ambition HBCU prize offers a grand prize of $250,000 while The Black Ambition Prize offers up to $1 million.
“I know you’re out there. I know you’re ready to do incredible things,” he said Wednesday on Instagram. “You might think the deck is stacked against you because historically it has been, but we cannot wait to meet you all and see the amazing world-changing companies that you’re going to create.”
By Megan Stone
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