Super producer Pharrell Williams has launched Black Ambition, an initiative to help Black and Latinx entrepreneurs. The main goal of this non-profit venture is to provide entrepreneurs of color with the right tools to succeed in the world of tech, design, healthcare, and consumer products/services start-ups.

Accompanying the announcement of Black Ambition, comes the addition of two prize competitions with the first being The Black Ambition HBCU Prize and the second being The Black Ambition Prize. Overall, the competitions will have an end result that will be revealed in one major national event.

A grand prize of $1 million in funding will be awarded as well as nine additional teams will receive other awards for The Black Ambition Prize. Find more information at the Black Ambition website.