They’re funding bold ideas!
The new Louis Vuitton’s Menswear Creative Director just launched the third annual Black Ambition program to give back to entrepreneurs.
In 2020, Williams launched Black Ambition, a nonprofit initiative created to help talented Black and Latinx entrepreneurs with $6 million already awarded to 65 creatives. Mya Harvard, founder of Shea’d, a software that makes it easier for you to shop Black-owned products, was awarded $100,000 in 2021 and has grown exponentially.
Now, Williams is stepping into his third year with the initiative, and it's bound to bring more excellence! This year's competition will prioritize HBCU students and graduates, awarding one HBCU student with $200,000. The grand prize includes a $1 million award and 15 other teams can look forward to prizes ranging from $15,000 to $250,000.
“We’ve accomplished so much in such a short time, and it’s been amazing to see our impact so far. Every year just gets better. It’s not just about creating space for our Black, Hispanic, and HBCU entrepreneurs. It’s about equity; it’s about giving them the tools, resources, and hands-on mentorship to excel uninterrupted. I am constantly blown away by the ideas and businesses that our applicants have developed and created," Williams stated in a press release.
“As we approach year three of the Black Ambition Prize, we continue to build on our legacy of supporting and empowering Black and Hispanic entrepreneurs to achieve unparalleled success. This year presents even greater urgency with reports showing a drastic decline in funding for diverse founders in the venture space. The work that we’re doing is more important than ever. This year’s prize is designed to provide a plethora of resources and opportunities to Black, Hispanic, and HBCU founders, allowing them to transform their innovative ideas into successful and impactful businesses," CEO of Black Ambition stated.
Black Ambition is an opportunity of a lifetime, creating a space for entrepreneurs to grow, learn, network, and build. Williams has created the perfect platform for minority entrepreneurs and we thank him for that!
To learn more about Black Ambition visit their website here.
Photo: Getty Images/ Black Ambition/ College/Yahoo! Finance