Pharrell Williams’ Black Ambition Showcases 2025 Prize Winners at Demo Day

This year’s Black Ambition Prize spotlighted two standout innovators, awarding its $100,000 co-grand prizes to ventures reshaping both beauty science and agricultural finance.

Sula Labs was recognized for advancing research and product development tailored to melanin-rich skin, while UFarmX earned top honors for its AI-powered agri-fintech platform addressing Africa’s persistent agricultural financing gap. Altogether, Black Ambition awarded more than $1 million in prizes to 27 founders selected from a pool of 2,500 applicants.

Black Ambition’s 5th annual Demo Day & Fundable Founders Forum, held November 14–15 in Miami, marked the culmination of its three-month accelerator supporting underrepresented founders.

The two-day event featured conversations with Pharrell Williams and investor Mellody Hobson, as well as a surprise performance by Chance the Rapper.

Related Post: Black Ambition Selects Startup Semifinalists for $1M Prize

Black Ambition’s Five Years of Impact

About 350 guests attended the event, which was hosted by comedian Jay Pharoah. Demo Day opened with eight Black Ambition founders sharing their entrepreneurial journeys and reflecting on how the organization has shaped their growth and success.

A standout moment was a powerful fireside chat between Black Ambition founder Pharrell Williams and Mellody Hobson, President & Co-CEO of Ariel Investments.

Felecia Hatcher and Pharrell Williams at the Black Ambition 2025 Demo Day: Image credit: Stephen Crosson

The evening continued with a live luxury auction and a vibrant networking reception that brought together investors, cultural leaders, corporate executives, and entrepreneurs—reinforcing a strong sense of community and shared momentum.

“After five years, I look at Black Ambition as my way of paying back and paying forward what I have been blessed to achieve,” Pharrell Williams said. “These founders have proven what happens when we invest in excellence and push beyond what we’ve been trained to believe about work, value, and ownership. When you focus on being the best, you can bank on it. So, to every future innovator: recognize who you are, recognize where you are, and start building the idea you believe in.”

Since its launch in 2020, Black Ambition has supported more than 28,000 entrepreneurs through its programming and digital content. More than 1,175 founders have received direct mentorship through its Black Ambitionist accelerator.

The organization has awarded roughly $14 million in capital to more than 157 startups nationwide, and its network of companies has collectively generated over $348 million in revenue. These milestones underscore Black Ambition’s growing influence and its enduring impact on underrepresented founders and the broader entrepreneurial ecosystem.

Related Post: Black Ambition Announces 2025 Finalists Competing for $1M in Growth Capital

Meet The Co-Grand Prize Winners of the Black Ambition Prize

Out of more than 2,500 national applicants, twenty‑seven finalists emerged. They represented diverse fields such as healthcare, tech, AI, fashion, agriculture, travel, food & beverage, cosmetic science, and communications.

Sula Labs, a beauty research and development lab for melanin-rich skin, and UFarmX, an AI-powered agri-fintech platform tackling Africa’s agricultural financing gap, were the $100,000 co-grand prize winners of the Black Ambition Prize.

Sula Labs formulates and clinically tests skincare products and ingredients for brands serving melanin-rich consumers. This includes products carried by Sephora, Credo Beauty, and Ulta Beauty. Founder AJ Addae, a Ghanaian-American chemical biology PhD candidate at UCLA, launched the brand in 2021. The company was started with a $5000 grant, naming it after the novel by Toni Morrison. 

Her inspiration, according to Beauty Independent, came from a friend who asked her to help develop products formulated for darker skin. She realized no manufacturer was meaningfully investing in R&D for melanin-rich skin, especially for concerns like hyperpigmentation.

Sharing during the event, Addae said, “While the prize money is incredible, the win is a symbol that our hard work to close inclusivity gaps in cosmetics & personal care through science has a significant impact and scale”.

Founder Alexander Zanders developed the idea for UFarmX during the COVID-19 pandemic after starting a farm in Nigeria. He saw farmers struggling with low yields and limited financing, often relying on costly middlemen. The platform helps smallholder farmers access collateral-free credit, high-quality inputs, and reliable markets, using AI to assess creditworthiness through geospatial and socioeconomic data.

Zanders launched a pilot program offering inputs on credit, technical support, and direct buyer connections. According to UFarmX’s website, yields tripled, revenues doubled, and default rates remained under 1%, outperforming local banks. That success formed the foundation for UFarmX’s patented technology, which is now scaling across Africa to close a $68 billion agricultural financing gap.

Related Post: Miami’s Inaugural Unicorn Ambition Conference Spotlights Black Men Talking Tech

He said in a press release, “Being honored, supported, and poured into by people that look like me and can identify with the off-thesis struggles that underrepresented founders go through not only work-wise but even mentally, means everything.”

As Black Ambition and its founders, past and present, celebrated this five‑year milestone, the organization looks ahead to the next cohort of founders. It also envisions the companies that will transform industries and the generational‑wealth opportunities that will ripple across long‑underserved communities.

The 2026 Black Ambition application opens in February 2026. Aspiring founders can apply at https://blackambitionprize.com/apply-now.

Image credit: Courtesy of Black Ambition (photographer Stephen Crosson)