Pharrell Williams and Chanel have launched a new mentorship programme.

The rapper's Black Ambition - which offers a series of prizes to "fund bold ideas and companies led by Black and Latinx entrepreneurs" - and the luxury fashion house have joined force on the two-part initiative that will feature mentorships, workshops, and celebrity guests.

The 'Happy' hitmaker said: “I am incredibly honoured by Chanel’s support of Black Ambition. Mentorship is a cornerstone of Black Ambition’s mission and is vital to the success of the next generation of Black and Latinx entrepreneurs."

The Women Who Lead panel will include the likes of actress Tracee Ellis Ross and Good American CEO and co-founder Emma Grede - who runs the lucrative denim brand alongside reality star Khloe Kardashian.

Harper's Bazaar's editor-in-chief, Samira Nasr, is in charge of moderating the panel.

She said: “To the Black Ambition community and future entrepreneurs, I can say that to each and every one of them that I know there’s enough space in the world for them.

“Occupy space. You have come this far. Trust that there is space for you and don’t back down from your dreams.”

The Black Ambition prize finalists will also be given access to the Chanel leadership community and their experts, who will teach them everything they need to know to get their business off the ground.

Pharrell told Vanity Fair: “Even when you have a great business plan you might not find the right operators. [The mentorship program] teaches you all of those things. Success really does have a lot of authors. Usually when you say ‘success has a lot of authors’ it’s a dig at people who didn’t do something but are taking the credit. In this particular sense when it comes to running a business, success does have a lot of authors – there are a lot of signatures needed to cosign to get a brand new idea off the ground.”