On Friday, November 15, Pharrell Williams’ non-profit organization Black Ambition is preparing to hold its eagerly awaited 4th Annual Demo Day, during which the 2024 Black Ambition Prize Competition winners will be revealed.
Over $2.7 million in investment will be given to businesses that demonstrate innovation and promise in the fields of consumer products, healthcare, media, technology, and artificial intelligence. The event will highlight the leading Black and Hispanic-founded entrepreneurs. This fascinating program, which strives to break down barriers and increase diversity in entrepreneurship, is supported by key sponsors such as Comcast, Adidas, Louis Vuitton, and Visa.
Eight finalists compete for a $1 million grand prize on this Demo Day, which is the end of a demanding nine-month journey for these up-and-coming companies. To be ready for the big stage, these talented founders have participated in a three-month mentorship program, public voting, and pitch training. Black Ambition’s HBCU Pre-Accelerator prepared outstanding innovators from Historically Black Colleges and Universities for the opportunity to join the final cohort and receive awards of up to $250,000 in addition to the national competition.
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“We are thrilled to continue showcasing the next generation of innovative companies, having mentored over 1,000 founders and generated over $265 million in revenue,” stated Felecia Hatcher, CEO of Black Ambition. “Black Ambition is doubling down on its commitment to accelerated growth for Black and Hispanic business owners as other corporations reduce support for businesses of color.”
One exceptional enterprise will get the ultimate prize in the day’s program, which will include a live pitch competition judged by well-known CEOs and business executives. After the presentation, Hatcher and Pharrell Williams will facilitate a conversation about Black Ambition’s future and its continued goal of assisting disadvantaged business owners. A VIP networking event and cocktail hour will follow the celebration, providing an opportunity for guests to meet the founders of Black Ambition and its network partners.
Williams stated that the number of brilliant entrepreneurs, thought leaders, and business owners increases year, “further affirming Black Ambition’s mission to unlock the potential of underrepresented entrepreneurs.”
Since its founding in 2020, Black Ambition has given $10 million in funding to 101 entrepreneurs, providing comprehensive company development resources in addition to financial assistance. Through biweekly office hours with industry experts from companies like Microsoft, Adidas, and Heineken, as well as executive coaching and mental health courses, Black Ambition makes sure that founders are prepared to face the obstacles of entrepreneurship.
The Black Ambition Prize has a significant influence. According to Expert IEP CEO Antoinette Banks, “winning the 2023 Black Ambition Prize has been transformative.” “The award gave us vital funds and a supportive community that helps us continue to have a positive impact.”
Black Ambition continues to make progress in closing the gap between Black and Hispanic entrepreneurs, setting the groundwork for a more inclusive business future as it gets ready to announce this year’s top innovators.
Please visit www.blackambitionprize.com to get in touch and find out more about Black Ambition.
To keep up with the Black Ambition community, follow us on Instagram (@blackambitionprize), Twitter (@blackambitionpz), and Facebook (@blackambitionprize).
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