|Application deadline||Feb 18, 2021|
|Organizer||Black AmbitionFoundation / Non-profit|
Fiji, Kiribati, Micronesia (Federated States of), Nauru, Palau, Papua New Guinea, Samoa, Solomon Islands, Tonga, Tuvalu, Vanuatu, Africa, Americas, Antarctica Region, Asia, Europe, Australia and New Zealand
Agribusiness, Business services, Clean technology and energy, Utilities, Construction and manufacturing, Creative, media and entertainment, Education, Financial services, Healthcare, ICT, Leisure and travel, Retail and wholesale, Consumer durables, Consumer non-durables, Transport and logistics, Water, sanitation and hygiene, Automotive, Clothing and textiles production, Computer hardware, Electronics, Food production, Furniture
|SDG||10. Reduced Inequality|
Certain communities have historically, deliberately, and painfully been excluded from access to growth capital for their businesses. With the Black Ambition Prize, we see a future where ideas flourish, pathways to success are elevated, and more Black and Latinx entrepreneurs are better positioned to build generational wealth that will transform the American landscape.
The truth is, Black Ambition is limitless, access is not. Black Ambition is a non-profit initiative working to close the opportunity and wealth gap through entrepreneurship. We invest capital and resources in high-growth startups founded by Black and Latinx entrepreneurs. We believe entrepreneurs historically left out of traditional investment funnels are building the companies of tomorrow. And we all have a united stake in opening opportunity.
The Black Ambition Prize provides a platform for eligible entrepreneurs to access growth capital, pitch feedback, and mentorship.
The Black Ambition Prize.
Black Ambition acknowledges the pathway to capital for talented entrepreneurs has not been equitable. Our objective is to help change that and to open opportunity to ideas that will shape the future. The Black Ambition Prize is a tiered opportunity to compete for $1,000,000 and learn with a network of talented founders and business leaders across sectors. Multiple teams will also be selected for funding at different levels. Prizes will be awarded as cash and, in some instances, investments. Any earnings from investments will be used to support Black Ambition’s ability to offer Prizes to future entrepreneurs.
Eligible applicants consist of Black and Latinx founders building across these distinct categories:
- Consumer Products and Services
The Black Ambition Prize is for ventures that have shown progress against the venture concept (tested the concept, working prototype, minimum viable product) and have raised no more than $1M in dilutive funding.
The application period is open for two and a half months. Selected semifinalists will then participate in a mentorship cohort refining their application and advancing their business. Grand prize winners will be announced at the Black Ambition Demo Day.
Applications Open – 12.02
Black Ambition Prize Workshops – December
Applications Due – 02.18
Semi-finalists announced and peer circles begin – April
Finalists announced and mentorship begins – June
National Demo Day – July
Knowledge is power, and so is capital. Through the Black Ambition Prize selection process, we aim to reduce community information asymmetries, providing access to resources to better assist applicants on their entrepreneurship journey and preparing them for the pitch presentation.
Black Ambition Prize Webinar
Hosted by the Bridgespan Group, this workshop provides an overview of the Black Ambition Prize and answer questions from prospective applicants about the process and criteria. Watch the webinar recording below: