Warner Music Group has launched a brand new seed funding fund to assist help entrepreneurs and innovation within the music trade.
The new multi-million greenback fund is named 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 might be used to foster variety and innovation.
“WMG Boost is all about nurturing the variety of concepts throughout the music ecosystem, particularly at this assembly level between music and tech. This fund allows us to help 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 even have entry to WMG’s music trade experience.
Warner Music Group isn't any stranger to investing in music trade. Just not too long ago, the label group acquired Songkick, a platform that permits 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 searching for start-up candidates who're searching for seed funding for his or her tasks.
The mission will must be within the pre-revenue by Series A levels to be thought of for an funding of as much as $1 million. WMG Boost will present candidates with trade experience upon being accepted as a funding companion for the startup.
Startups trying to apply for funding can add assessment supplies straight 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 count on any confidentiality.
Then once more, most traders hate non-disclosures, so get used to it!