Pharrell Williams‘ non-profit, Black Ambition, celebrated its fourth annual Demo Day in New York City, awarding over $2.7 million to 30 innovative startups led by Black and Hispanic entrepreneurs. The event, designed to bridge opportunity and wealth gaps, highlighted companies across tech, healthcare, consumer goods, artificial intelligence, and media/entertainment.
Grand Prize Winner: RedDrop
The $1 million grand prize went to RedDrop, a startup founded by Dr. Monica Williams and Dana Roberts, that creates period kits for tweens with a mission to empower, educate, and support young girls. “This award is life-changing, not just for the capital but also for the mentorship and network that will open doors for us and help us build our own table,” said Dr. Williams.
Additional Winners and Prizes
Thomas Fields, CEO of GRIND, a sports technology company focused on inspiring inner-city youth to pursue careers in engineering and technology, secured the second-place prize of $250,000. The other winners received awards ranging from $25,000 to $1 million.
In addition to funding, recipients will benefit from six months of mentorship, networking opportunities, retail introductions, wellness coaching, and strategic guidance, all aimed at fostering sustainable growth.
Event Highlights
The Demo Day, hosted by actor and advocate Hill Harper, featured pitches from eight finalists to a panel of judges that included:
- Lisa Price, Founder of Carol’s Daughter
- Pinky Cole, Founder of Slutty Vegan
- Matt Story, VP of Global Brand Integrated Marketing at Visa
- Erik Moore, Founder & Managing Director of Base Ventures
Over 250 guests attended the event, sponsored by Visa, Comcast, Lennar Foundation, Louis Vuitton, and Adidas.
Black Ambitionβs Legacy
Since its inception in 2020, Black Ambition has awarded approximately $13 million to 131 entrepreneurs and supported over 1,000 founders through mentorship and training. Collectively, its network of companies has generated over $265 million in revenue, exemplifying the organizationβs commitment to fostering generational wealth within underrepresented communities.
Founder Pharrell Williams shared his enthusiasm: “Black Ambition is creating pathways for Black and Brown entrepreneurs to scale their businesses, build partnerships, and redefine success.”
Looking Ahead
Black Ambition CEO Felecia Hatcher emphasized the organizationβs ongoing mission to empower the next generation of entrepreneurs: “This yearβs Demo Day showcased groundbreaking businesses. Weβre excited to support these leaders as they contribute to the $265 million in revenue generated by our network so far.”
Recognized Impact
The organization has garnered accolades from Forbes, Essence, and Bloomberg and won Fast Companyβs 2021 World Changing Ideas award for Impact Investing.
For more information and to view the full list of winners, visit www.blackambitionprize.com. Stay connected on Instagram, X, and Facebook (@blackambitionprize).
