Black Ambition Prize Competition

The Black Ambition Prize Competition is a strategic initiative aimed at empowering Black and Hispanic entrepreneurs across the United States by providing early-stage funding, developmental support, and access to influential networks. Organized by Black Ambition, the competition is part of a broader mission to close opportunity and wealth gaps by backing high-potential founders who are often excluded from traditional funding streams. This program places particular emphasis on for-profit ventures in sectors with strong growth trajectories and social impact, such as Consumer Products and Services, Healthcare, Media and Entertainment, Technology, and Artificial Intelligence. Black Ambition targets U.S.-based ventures that are legally incorporated and meet specific criteria. Each applying team must include at least one founder who identifies as Black, African, African American, Hispanic, Latino, Latina, or Latinx. The lead founder must also be a U.S. resident, and the venture should demonstrate tangible progress such as a minimum viable product or existing customer base. Importantly, applicants must not have raised more than $1 million in dilutive funding. These conditions ensure alignment with the competition’s focus on early-stage, underrepresented innovators. The support provided extends beyond financial capital. Prize awards range from $15,000 to $1 million, and selected participants also receive up to $100,000 in investments. Additional value is provided through non-financial support estimated at over $20,000, including coaching, mentorship from industry professionals, access to pitch, wellness, and leadership training, and curated introductions to funders. Participants benefit from being part of a dynamic cohort model, including programming tailored for HBCU students and alumni, and a Demo Day that connects them with investors and industry leaders. Applicants go through a comprehensive submission process designed to surface promising ventures with real traction. While detailed application mechanics and specific evaluation criteria are not disclosed in the summary, the emphasis is on showcasing demonstrated progress and potential for growth. Black Ambition offers an inclusive ecosystem where founders can build sustainable companies with long-term impact, aided by support infrastructure and training aligned with global brand standards. In terms of outcomes, the program aims to foster a new generation of successful minority-led companies that drive innovation, employment, and equity in the U.S. economy. By increasing the visibility and viability of these ventures, Black Ambition contributes to systemic change in the entrepreneurial landscape. The competition is now closed for the current cycle, with the last known application deadline on May 6, 2024. However, it operates on a recurring annual basis, and the next anticipated cycle is projected to open in May 2026. For further information or inquiries, applicants can contact the Black Ambition team via email at info@blackambitionprize.com. This central point of contact supports transparency and accessibility for prospective applicants preparing for future cycles of the competition.

Showcase a working prototype or proof of concept; highlight founder demographics; emphasize growth potential and team structure