Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed Felecia Hatcher.

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Purpose of the Interview

• To spotlight Black Ambition, a national initiative founded by Pharrell Williams that funds and mentors Black and Brown entrepreneurs.
• To promote the upcoming Black Ambition Demo Day and Fundable Founders Forum in Miami.
• To inspire entrepreneurs by sharing insights on scaling businesses, accessing resources, and building wealth.

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Key Takeaways

1. About Black Ambition

   • Founded by Pharrell Williams to close the opportunity gap for Black and Hispanic entrepreneurs.
   • Has invested in 131 companies over five years.
   • Provides capital, mentorship, and holistic support (including mental health).

2. Event Details

   • Demo Day (Nov 14): Entrepreneurs pitch and receive funding.
   • Fundable Founders Forum (Nov 15): Masterclasses with industry leaders like Steve Stoute, Nancy Twine, and Linda Clemens.
   • Focus on actionable strategies, not just inspiration.

3. Competition Structure

   • Annual national competition with 2,500–3,000 applications.
   • Categories include HBCU founders, national finalists, top prize winners, and people’s choice.
   • Process: Applications → 250 semifinalists → 3-month cohort → Top 20–25 awarded funding.

4. Challenges & Advice

   • Many entrepreneurs fail due to rushed applications and lack of preparation.
   • Success requires persistence: “Apply again” if you fail.
   • Building a team is essential—Black Ambition does not invest in solopreneurs.

5. Impact on Black Women

   • Fastest-growing group of entrepreneurs but often limited by resources.
   • Need to shift from solopreneurship to team-building for scalability.

6. Pharrell’s Motivation

   • Believes in democratizing opportunity.
   • Inspired by those who invested in him early in his career.
   • Goal: Close wealth and opportunity gaps quickly—“Wealth has a need for speed.”

7. How to Get Involved

   • Visit blackambitionprize.com and join the newsletter for alerts and resources.
   • Past winners share insights in info sessions.

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Notable Quotes

• On closing gaps:
  “People are too comfortable wasting the time of Black entrepreneurs with misaligned resources and low vibrational mentorship.”

• On persistence:
  “If it doesn’t work on you in that moment, it works for you in that moment. Either way, it works.”

• On Pharrell’s vision:
  “Talent is not equally distributed by zip code, but opportunity can be.”

• On entrepreneurship mindset:
  “We have to start enjoying the process that molds us, not just say, ‘I didn’t make it, I’m upset.’”

• On Black women entrepreneurs:
  “They’re the fastest growing, but largely solopreneurs. We need them to think about building teams.”

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#SHMS #STRAW #BEST

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