"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."

Pharrell Williams is launching a non-profit to uplift entrepreneurs from Black and Latinx communities.

According to Variety, the initiative, dubbed Black Ambition, will serve as an incubator for tech, healthcare, and design startups from former and current HBCU students. The non-profit will hold two prize competitions, leading to one major national event, in which the winner will be awarded a grand prize of $250,000 towards seeding and development of their concept. At least nine other finalists will be awarded $15,000.

Along with cash awards, the Black Ambition is offering mentorship to participants. "Whether it’s a $250,000 Prize, or it’s a $15,000 Prize. If you win something, you are going to get mentorship, the strategic scaffolding, that you’re going to need to make sure that we are you know setting you up for the odds to be in your favor," Williams said in press event for the intiative. "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," he added. Those interested can apply here today.

In other Pharrell moves, the producer is set to revive his OTHERtone radio program as a podcast on his own network, OTHERtoneMEDIA. The first episode will premiere on December 7th via Apple Podcasts, featuring interviews with Malcolm Gladwell, Zendaya, and Rosalía. Former Star Trak rapper, Fam-Lay, will join Pharrel and Scott Verner as a cohost on the program. Other shows have yet to be announced, but future episodes of the OTHERtone will feature appearances from Eric Andre, Harmony Korine, and more.  "We want people to be inspired by the people who inspire us," says the producer in a press release for the show.