Universal Music Group has its ‘accelerator assurance network’ as able-bodied as an accelerator for its Capitol Music Group label; while Sony Music and Warner Music accept their affiliation with the Techstars Music accelerator. Now WMG is architecture on that with a new seed-stage startup advance armamentarium called WMG Boost. AI, blockchain, basic reality, adaptable amateur and articulation technology are amid the areas on WMG Boost’s agenda.
“This armamentarium enables us to abutment anxious entrepreneurs, apprentice added about arising business models, and advance in the conception of added opportunities for artists,” said arch agenda administrator Ole Obermann. The armamentarium will advance up to $1m at a time in startups, from pre-revenue date through to Series A rounds, although it hasn’t appear its expectations on disinterestedness stakes.
There’s a admonishing agenda on the WMG Boost acquiescence folio though: the characterization “assumes no obligations to assure or advance as arcane the agreeable of any acquiescence or conversations with WMG… In authoritative any submission, you accede and accede that WMG may advance articles or services, or accept articles or casework developed for WMG (or our affiliates), that are agnate to or attempt with articles or casework declared by you”. Standard legalese added than a absolute admission, it’s true: startups will be acquisitive their aboriginal account advance to partnerships with the characterization to booty them further.
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