Pharrell Williams Launches Black Ambition Incubator

Francesca Billington

Francesca Billington is a freelance reporter. Prior to that, she was a general assignment reporter for dot.LA and has also reported for KCRW, the Santa Monica Daily Press and local publications in New Jersey. She graduated from Princeton in 2019 with a degree in anthropology.

Pharrell Williams Launches Black Ambition Incubator

Rapper and producer Pharrell Williams released "Entrepreneur" with Jay-Z earlier this summer, a song that became an anthem for Black ambition. Now, Williams is launching an incubator to put money behind his message.

Called Black Ambition, the nonprofit aims to invest in Black and Latino startup founders, and it's beginning by creating two prize competitions set to close in July 2021. The effort is backed by Adidas, Chanel and philanthropic organizations including The Rockefeller Foundation and the Chan Zuckerberg Foundation. Silicon Valley startup investor Ron Conway and Buzzfeed founder and CEO Jonah Peretti also contributed.


The first competition will award up to $250,000 to current students or recent alumni from a historically Black college developing or in the seed stage of a company. Smaller prizes will be awarded to at least nine additional teams.

The second competition, called the Black Ambition Prize, will give $1 million in seed money to an early-stage company focused on tech, design, healthcare or consumer products and services. Another nine teams will get smaller prizes. Finalists will be connected with and mentored by a network venture capitalists and angel investors.

"Because we don't have enough of the market share, our kids end up having issues with disproportionate access to healthcare, disproportionate access to education and as a culture, we have disproportionate access as it pertains to legislation and representation," Williams said in a video announcing the news.

Williams was inspired to pool talent from historically Black colleges and universities and build a new pipeline of investment and resources to young people.

"We want to lift our HBCUs. They lift so many of us. They deserve to be in lights," Williams said. "We think it's high time that we own more companies.

In August, Williams published a piece in Time Magazine that accompanied a cover spread on "The New American Revolution." It coincided with his release of "Entrepreneur," the song and music video he produced with Jay-Z as a tribute to Black founders across the nation.

"Recent events and tragedies have illustrated the always existent stark divisions in the American experience, and while entrepreneurship has long been a tenet of the American dream, marginalized people have faced long-standing barriers to success," Williams said in a statement.

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This Week in ‘Raises’: Saviynt Lands $205M, Pagos Secures $34M

Decerry Donato

Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

This Week in ‘Raises’: Saviynt Lands $205M, Pagos Secures $34M
This Week in ‘Raises’:

While it was a slow week of funding in Los Angeles, security vendor Saviynt managed to score $205 million that will be used to meet the company’s growing demand for its converged identity platform and accelerate innovation.

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Decerry Donato

Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

LA Tech ‘Moves’: Saviynt Gains New CEO, The FIFTH Taps Agency Veteran to Lead Creative Team
LA Tech ‘Moves’:

“Moves,” our roundup of job changes in L.A. tech, is presented by Interchange.LA, dot.LA's recruiting and career platform connecting Southern California's most exciting companies with top tech talent. Create a free Interchange.LA profile here—and if you're looking for ways to supercharge your recruiting efforts, find out more about Interchange.LA's white-glove recruiting service by emailing Sharmineh O’Farrill Lewis (sharmineh@dot.la). Please send job changes and personnel moves to moves@dot.la.

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Los Angeles’ Wage Growth Outpaced Inflation. Here’s What That Means for Tech Jobs

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College and previously covered technology and entertainment for TheWrap and reported on the SoCal startup scene for the Los Angeles Business Journal. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

Los Angeles’ Wage Growth Outpaced Inflation. Here’s What That Means for Tech Jobs

Inflation hit cities with tech-heavy workforces hard last year. Tech workers fortunate enough to avoid layoffs still found themselves confronting rising costs with little change in their pay.

Those national trends certainly touched down in Los Angeles, but new data from the Bureau of Labor Statistics (BLS) show that the city of angels was the only major metro area that saw its wage growth grow by nearly 6% while also outpacing the consumer price index, which was around 5%. Basically, LA was the only area where adjusted pay actually came out on a net positive.

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