Country Music Association Partners With The Nashville Entrepreneur Center For Tech Investments
October 23, 2014 at 4:41 AM (PT)
The COUNTRY MUSIC ASSOCIATION and the NASHVILLE ENTREPRENEUR CENTER have partnered up for PROJECT MUSIC, the only concentrated music business accelerator in the country.
Start-ups from around the world will be invited to apply for the program, out of which six to eight applicants will be selected and awarded a minimum of $20,000 investment to start their businesses in exchange for equity. The program leverages the EC’s proven accelerator formula with the industry strength of CMA, for the development of the music industry.
“NASHVILLE has the highest intensity of music industry jobs than any other U.S. city, so whether it is our songwriters, publishers, or music companies, we have it all,” Mayor KARL DEAN said. “It is great to see a group of local companies invest in music technology startups. NASHVILLE’s front door for innovation is the EC, and this music accelerator will only enhance our creative economy.”
The seed investment group founders for the accelerator are CREATIVE ARTISTS AGENCY, VECTOR MANAGEMENT, RYMAN HOSPITALITY PROPERTIES, UNIVERSAL MUSIC GROUP, SPALDING ENTERTAINMENT, DEVDIGITAL, RED LIGHT MANAGEMENT and GALANTE ENTERTAINMENT.
The seed investment group will provide the selected teams with the capital needed to complete the music business accelerator. PROJECT MUSIC is a 14-week accelerator program that will develop the selected applicants into investable businesses for the music industry ecosystem in NASHVILLE.
The online application process in now open for submission, at www.ec.co/projectmusic. Prospective teams have 30 days to complete the process and apply for PROJECT MUSIC.