Applications are now open for the third iteration of Pharrell Williams’ Black Ambition Prize.

The initiative — founded by Williams — was born with an aim of closing the opportunity and wealth gap by empowering Black & Hispanic entrepreneurs. And despite Williams himself bagging one of the most coveted jobs in fashion, he’s committed to the cause.

Since its launch back in 2020, the Black Ambition Prize has since awarded approximately $6M to 65 entrepreneurs.

Backed by a number of high-profile names including the likes of adidas and Chanel, the Black Ambition Prize provides mentorship, resources, connections, and up to $3 million to entrepreneurs across consumer products and services, media and entertainment, healthcare, technology, and Web 3.0 industries.

Now applications for the Black Ambition Prize 2023 are officially open and are set to close on May 9, 2023.

“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,” said Williams of the initiative’s success so far.

“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,” he added.

The Black Ambition Prize is more than a monetary reward, with winners not only receiving mentorship, resources, and connections, but also bi-weekly office hours with leaders in their respective field.