Music Tech Accelerator Head, Heather McBee, Discusses Project Music
What is Project Music? What do you do?
Project Music is the Nashville Entrepreneur Center's leading action to provide year round support for music-minded entrepreneurs building music-driven startups. The program fosters innovation in the music industry by providing the startups with the curriculum, connections and capital needed to create a scaleable tech businesses.
What is a milestone you celebrated at Project Music recently?
On January 31, 2016, Project Music celebrated the start of the second year of program's capstone, a 14+ week accelerator in music tech.
What advice would you give to future angel investors or people considering becoming angel investors?
Specific to investing in music startups, I'd share this advice with angels and future angels: Do due diligence. Music Tech can be a 'sexy' investment, but the first step to a sound business model in this space is insuring the startup is compensating the rights holders and content creators for the use of the music.
What makes Project Music companies attractive to investors?
Project Music Accelerator alumni are attractive to investors for three reasons:
- Curriculum: PM startups have received an immersion in the music industry to help them understand the ecosystem, the pain points and their startup fits into the industry at large.
- Connections: PM graduates have been connected to leaders and decision makers throughout the music industry. In addition to mentor support, these leaders provide additional connections, strategic partnerships and possible investment.
- A foundational understanding of paying for the content used in the business model.
What can our readers look forward to in the future from the Project Music program?
InCrowd Blog readers can look forward to the launch of seven new music tech startups coming out of the current accelerator program (hint, hint: Demo Day is mid May!) and even more immersive programming to support entrepreneurs wanting to impact the future of the music business.
InCrowd Capital is an angel investment group that invests in companies going through incubator, accelerator and university programs across the Southeast. The "Five Questions For..." interview series will bring you insights from leaders in the entrepreneurial and investor ecosystems across the Southeast. Subscribe to our newsletter to be the first to receive our next interview in the series.