Warner Music Group has launched a brand new seed funding fund to assist assist entrepreneurs and innovation within the music business.
The new multi-million greenback fund is known as WMG Boost. The purpose is to put money into early startups within the recorded music and music publishing industries.
Ole Obermann, Chief Digital Officer of WMG, says the brand new fund shall be used to foster variety and innovation.
“WMG Boost is all about nurturing the range of concepts inside the music ecosystem, particularly at this assembly level between music and tech. This fund permits us to assist considerate entrepreneurs, be taught extra about rising enterprise fashions, and put money into the creation of extra alternatives for artists.”
WMG Boost will attain a broad spectrum of concepts from synthetic intelligence, the blockchain, cellular gaming, digital actuality, and voice recognition. Startups that obtain seed funding from WMG Boost may also have entry to WMG’s music business experience.
Warner Music Group is not any stranger to investing in music business. Just lately, the label group acquired Songkick, a platform that enables customers to search out native live shows — from indie reveals in bars to mega-concerts at amphitheaters throughout the nation. WMG has additionally invested in Landr and Pexeso, that are two music tech startups.
Right now, WMG Boost is in search of start-up candidates who’re searching for seed funding for his or her tasks.
The challenge will have to be within the pre-revenue by Series A levels to be thought-about for an funding of as much as $1 million. WMG Boost will present candidates with business experience upon being accepted as a funding companion for the startup.
Startups trying to apply for funding can add evaluate supplies instantly on the WMG Boost web site. The web site notes that WMG won’t enter into any non-disclosure agreements regarding submissions — so don’t anticipate any confidentiality.
Then once more, most buyers hate non-disclosures, so get used to it!