Black Ambition Prize Competition

The Black Ambition Prize competition is designed to empower Black and Hispanic founders across the United States by offering growth capital, comprehensive coaching, and access to a carefully curated community of innovators and mentors. This initiative directly aligns with its mission to support and elevate underrepresented entrepreneurs. The program is specifically tailored to early-stage ventures in key sectors, including Consumer Products and Services, Healthcare, Media and Entertainment, Technology, and AI, demonstrating a strategic focus on industries with high growth potential and significant impact. The primary beneficiaries of this grant program are Black and Hispanic innovators who are building for-profit ventures. The program targets individuals and teams who are at least eighteen years of age, legally incorporated in the U.S., have demonstrated progress with a minimum viable product or existing consumer base, and have raised less than $1M in dilutive funding. A crucial eligibility criterion is the inclusion of at least one founding member identifying as Black/African/African American and/or Hispanic/Latino/Latina/Latinx, with the lead of the venture being a U.S. resident. These criteria ensure that the program's resources are directed towards its intended demographic, fostering diversity and inclusion in the entrepreneurial landscape. The program's priorities and focuses are multifaceted, emphasizing not only financial investment but also comprehensive support for founder development. Key features include cohort-based programming for HBCU students and alumni, mentorship from technical experts and experienced entrepreneurs, and a Demo Day to connect founders with investors. Beyond capital, select applicants receive critical support services such as coaching, pitch workshops, wellness and leadership training, community building, online and in-person events, funder introductions, and exclusive training opportunities with global brands. These elements collectively aim to equip founders with the skills, networks, and resources needed for sustainable growth. The expected outcomes and measurable results of the Black Ambition Prize are centered on fostering successful, high-growth ventures from underrepresented communities. Eligible ventures compete for awards ranging from $15,000 to $1,000,000, with investments of up to $100,000 provided as part of the program. The support services, valued at over $20,000 through partners, and marketing opportunities are designed to accelerate the growth and visibility of these startups. The ultimate goal is to increase the number of thriving Black and Hispanic-led businesses, thereby reducing wealth and opportunity gaps and contributing to a more equitable and innovative economy.