By Jordan Maxwell in Finance — Nov 14, 2023

Black-owned Expert IEP wins $1M prize at Pharrell Williams' 2023 Demo Day

Other top prize winners include ECOMSPACES, a one-stop-shop for e-commerce solutions ranging from product photography to order fulfillment, and HBCU grand prize winner Monocle, a social e-reader that creates a community-focused reading experience, who were awarded $250,000 and $200,000.

Image of Felecia Hatcher, CEO of Black Ambition; Leo Creer, co-founder and chief technology officer of Expert IEP; grand prize winner Antoinette Banks, CEO and founder of Expert IEP; and Pharrell Williams, founder of Black Ambition. Banks received $1 million for her app, which optimizes existing individualized education plans with predictive AI for kids with disabilities. BLACK AMBITION PHOTO

Pharrell Williams’ Black Ambition has awarded $1 million to Antoinette Banks, CEO and founder of Expert IEP. The parent-facing app optimizes existing individualized education plans with predictive AI for children diagnosed with a disability.

The prize money was awarded for the organization’s third annual Demo Day on Thursday, Nov. 9. Other top prize winners include ECOMSPACES, a one-stop-shop for e-commerce solutions ranging from product photography to order fulfillment, and HBCU grand prize winner Monocle, a social e-reader that creates a community-focused reading experience, who were awarded $250,000 and $200,000, respectively, towards their ventures.

“Black Ambition is a feeling. It’s an overwhelming drive to show up consistently in excellence to create lasting, unapologetic impact. For so long, Black and brown kids with learning differences have been underestimated and forgotten. Earning this $1 million prize puts our kids back at the forefront and gets people thinking deeply about solving the problems in special education. As founder and CEO, I am deeply grateful to Black Ambition for believing in me, holding space for me, and breaking down barriers. It’s clear that Black Ambition is more than a prize award; it’s a shift in expectation for our culture,” grand prize winner Antoinette Banks, CEO and founder of Expert IEP, said in a statement.

Thirty-three other business owners received prizes; more than 100 entrepreneurs have received monetary prizes since Demo Day was founded in 2020, a statement reads.

Over 2,000 applicants registered this year and represented companies within five categories: consumer products and services, health care, media and entertainment, technology, and Web 3.0.

The nationwide competition was narrowed down to 50 finalists and condensed even further to the Top 36. This year, the 36 top finalists received prizes ranging from $20,000 to $250,000. The judges determining the prize winners included Marilyn Webber from Louis Vuitton, Erik Moore, managing director at Base Ventures, and Jay Lundy, senior vice president and head of investments and new ventures at Combs Global.

The event was hosted by two-time Emmy Award-winning talk show host and digital lifestyle expert Mario Armstrong.

“Demo Day is a powerful testament to the transformative potential of the Black Ambition Prize. The support of our brand partners, like Louis Vuitton, Adidas, Valor Equity Partners, and Spring Studios, as well as the dedication of our esteemed judges, underscores our commitment to nurturing Black and Hispanic entrepreneurs. Our impact, illustrated by the 36 top finalists, is a testament to the tangible change we’re creating for underserved communities. We’re proud to announce this year’s winners and to celebrate the remarkable journey of Black Ambition,” said Black Ambition CEO Felecia Hatcher.

Past Black Ambition prize winners, including Kadidja Dosso of Dosso Beauty (2021 HBCU grand prize winner) and Karissma Yve of Gildform (2022 general prize winner), participated in a conversation moderated by Glenise Kinard-Moore, founder and CEO of Skiimoo Tech (2022 second place general prize winner). They were joined by rapper Pharrell onstage to discuss their entrepreneurial journey and business successes since winning investments. Previous participating founders shared that they are now more confident in pitching their businesses to other investors, according to a statement.

Winning recipients attend town hall meetings with Pharrell and receive life coaching and therapeutic workshops in groups and one-on-one, encouraging a holistic career approach.