*Pharrell Williams has announced his new non-profit, Black Ambition, was inspired by the civil unrest that rocked the nation this year.
The initiative aims to support Black and Latinx entrepreneurs who are launching tech, design, healthcare, consumer products, and service startups.
“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,” the artist said in a statement, per Complex. “With Black Ambition, the goal is to help strengthen the pipeline of talented entrepreneurs and close the opportunity and wealth gaps derived from limited access to capital and resources.”
Black Ambition is also offering a Black Ambition HBCU Prize to current or former HBCU students who pitch their company for consideration. Tthe winner will receive a $1 million prize.
READ MORE: Pharrell Launches Skin-Care Line, Announces Film Series ‘The Power You Hold’ [WATCH]
“The Black Ambition #HBCU Prize” provides access to capital, pitch feedback, and mentorship.
Represented by this icon, Prize is a tiered opportunity to compete for up to $250,000.Current #HBCU + alum can apply at: https://t.co/2oHOplp3G3 pic.twitter.com/Ha50FmSGZb
— Black Ambition (@blackambitionpz) December 3, 2020
The Black Ambition’s advisory team includes support from the global nonprofit Bridgespan Group, as well as Off-White’s Virgil Abloh, the Chan Zuckerberg Initiative, the Rockefeller Foundation, Tony’s Chocolonely, the Visa Foundation and brands like Adidas and Chanel.
The Black Ambition initiative follows the recent launch of Williams’ skincare line called Named Humanrace, which he crafted with dermatologist, Elena Jones, per Page Six.
Page Six writes, “The products include luxurious ingredients like kaolin clay, glycolic acid and snow mushroom extract, but they’re also packaged in tubs made from 50% post-consumer recycled plastic — and each product has a removable inner chamber that can be exchanged for a refill.”
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