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News May 18, 2017

Brisbane music start-up founder pitching to raise millions in LA today

Brisbane music start-up founder pitching to raise millions in LA today

Two Brisbane-based tech entrepreneurs are pitching their music start-up Popgun to a room of industry executives and invite-only investors in LA today.

Popgun founders Stephen Phillips (CEO) and Adam Hibble (CTO) created the deep learning music AI company to teach computers how to produce an original Top 40 hit record.

But today, Popgun is one of 11 music start-ups hoping to raise millions in capital investment at the inaugural Demo Day, where new startup accelerator program Techstars Music has provided a platform for power players to invest in music.

The 11 start-ups are: Popgun, Amper, Hurdl, JAAK, Pacemaker, Pippa, Robin, Shimmur, Superpowered, SyncSpot and Weav, the artist remix console dreamed up by the developer who created Google Maps’ tech in Sydney (Lars Rasmussen).

Prior to Demo Day, the 11 companies spent three months undertaking Techstars Music’s accelerator program which provided them with capital (a US$120K investment for each), mentorship, business development and licensing opportunities.

By the end of Demo Day at Los Angeles’ El Rey Theater, each startup would have had the chance to meet with nearly 200 mentors, mostly from the music industry.

They include representatives from Warner Music, RCA Records, Sony Music, AEG, Live Nation, Snapchat, UTA, YouTube, Big Machine, Paradigm, Downtown Music Publishing, YG Entertainment and Kobalt.

Speaking to Billboard, Sony’s evp of digital strategy Mark Piibe said:

“We’re continually looking for ways to work with the startup community and support innovation from young companies that have the potential to grow the music business.

“Techstars Music has given us a unique opportunity to do that bringing together a group of extraordinary music startups with whom we’ve been able to dig in and explore ideas to help translate their visions into market-ready solutions.”

This article originally appeared on The Industry Observer, which is now part of The Music Network.


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