The Black Ambition foundation is receiving applications to the Black Ambition Prize 2021 to close the opportunity and wealth gap of Blacks and Latinx through entrepreneurship.
The context Black Ambition operates in, is that, the Black and Latinx communities have historically, deliberately and painfully been excluded from access to growth capital for their business ventures.
They therefore see this prize as a future where ideas flourish, pathways to success are elevated and more Black and Latinx entrepreneurs are better positioned to build generational wealth that is going to transform the American landscape.
The non-profit organization invests capital and resources in high-growth startups founded by Black and Latinx entrepreneurs. It believes these group of entrepreneurs who have historically been left out of traditional investment funnels are building tomorrow’s companies.
The Black Ambition Prize
The objective of the Black Ambition Prize is to help change and open opportunity to ideas that will shape the future. It is a tiered opportunity to compete for $1,000,000 and learn with a network of talented founders and business leaders across sectors.
There will multiple teams selected for funding at different levels. Prizes will be awarded both in cash and investments. All earnings from investments will be reinvested in Black Ambition’s ability to offer Prizes to competing entrepreneurs in the future.
The Prize is an initiative of Pharrell Williams, a recording artiste, producer and entrepreneur, who explains that,
“With Black Ambition, the goal is to help strengthen the pipeline of talented entrepreneurs and close the opportunity and wealth gaps derived from limited access to capital and resources.”
The Prize is for startup ventures showing progress against the venture concept (tested the concept, working prototype, minimum viable product) and have raised less than $1 million in dilutive funding.
Eligible applicants should consist of Black and Latinx founders functioning across these categories:
- Consumer Products and Services
For African startup founders willing to apply, at least one founding member must be headquartered in the U.S. and the business(es) must be based in the U.S.
The prize process
After the deadline for submission of application draws to a close which is the 18th of February, 2021, the selected semifinalists will participate in a mentorship cohort refining their application and advancing their business.
Grand prize winners will be announced at the Black Ambition Demo Day.
- Semi-finalists to be announced and peer circles begin in April
- Finalists are announced and mentorship begins in June
- National Demo Day takes place in July
Adidas, VISA and Chanel as some the partners for the prize.
A Male and A Female Entrepreneur to Win US$50K Each in the GoGettaz Agripreneur Prize. APPLY!!!
Applications are open for the GoGettaz Agripreneur Prize 2021 aimed at finding the brightest young agri-food entrepreneurs on the African continent. This is a search for agribusinesses that are bringing tech, innovation and passion to the agriculture and food space.
The Gogettaz Agripreneur Prize is organized by Generation Africa, a partnership between Econet and Yara International to strengthen the ecosystem for youth entrepreneurs in the agri-food sector across the continent.
The prize is looking for agribusinesses that show the following features;
- Environmental sustainability
- Social and commercial impact
- Originality and innovation
- Market potential and traction
- An investible team
Who Qualifies to apply?
- Be 35 years and below
- Hold nationality (with an official ID) from any African Union member country
- Be a founding member of the startup and play an active role in its operation
- Have no criminal record
The submitted company shall meet the following terms,
- The business should be legally registered in any AU member country and also headquartered on the continent
- It is built to be financially sustainable either as for-profit or non-profit generating revenue and not solely dependent on donor funding
- The venture currently plays a role in the agri-food sector and/or supports the development of the agri-food sector through an innovation or process improvement
- The agri-food sector may be defined as businesses including:
- Agri-food research & development
- Primary food production (farming)
- Crop nutrition
- Mechanisation, automation or robotics, including drones
- Crop protection
- Hydroponics or urban farming
- Transport, distribution, storage or logistics
- Food processing
- Packaging or marketing
- Food retail or service
- Waste management or recycling
- Digital or technology solutions/services to the agri-food sector
- Innovative finance solutions/services to the agri-food sector
- Renewable energy or environmental solutions/services to the agri-food sector
After a thorough review of applications by expert jury, semi-finalists will receive notification via Facebook and email by the 17th of July 2021 where they will each be interviewed and asked for further information.
By the 27th of July, the finalists will be announced with six (6) males and six (6) females to compete in the final virtual pitching contest at the Africa Green Revolution Forum (AGRF) virtual meeting 2021.
The Grand Prize
Two successful entrepreneurs; male and female, will each receive $50,000 for being the most innovative and scalable agric business idea. All GoGettaz finalists will also be awarded mentorship, programming linkages and other guidance to continue their entrepreneurial journey. APPLY HERE
Deadline for applications
The GoGettaz Agripreneur Prize welcomes applications till the 14th of June, 2021.
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