Investing in the Future of Music
The future of music relies on innovation. Whether that’s new sounds or new perspectives, music is an ever evolving beast that never fails to surprise with each passing year. However, each next step in that evolutionary chain needs new technology to make it come to life.
Techstars Music is a unique type of investment firm, pooling together the funds and resources of renowned music companies to give tech start-ups a fighting chance in the industry. They call themselves a “start-up accelerator”, teaming up with the likes of Sony Music, Amazon, Verizon, and many more to supply the financial boost that these start-ups need. Start-ups can pick a city or a program to apply, and see where their technology could fit in the music industry ecosystem.
This year, Techstars Music announced that they will supply $120,000 to each company in their 2017 class of music tech start-ups: Amper, Hurdl, JAAK, Pacemaker, Pippa, PopGun, Robin, Shimmur, Superpowered, SyncSpot, and Weav. Each start-up has something new to offer the industry, whether it’s an idea for LED wearables at live events, a new approach to low-cost music licensing, or diving into artificial intelligence that writes pop songs.
Bob Moczydlowsky, Techstars Music Managing Director, told Billboard that Techstars “...scour[s] the planet looking for companies solving real problems in music and creating delightful experiences for fans...They're going to have access and help and support from the music business in a way that a lot of start-ups never have before.”
Techstars Music is just one branch of the Techstars company, which runs similar programs in all kinds of tech fields. Now that these 11 start-ups have been selected to receive funding. They’ll have access to an enormous group of professionals already seated in the industry, receive access to Techstars resources for life, undergo a 90-day hands-on mentorship, 3 months of office space to get up and running, and a final Demo Day. While it may sound like a lot of pressure, the payoff has been well worth it for hundreds of successful Techstars graduates. And now Techstars Music is throwing their hat into the ring, encouraging music-driven entrepreneurs to enable the music of tomorrow today.
Lion Bold Records is always looking for new ways to produce music, inspire our artists, and encourage interaction from our fans. We can’t wait to get our hands on some of this exciting new tech down the road.