Estonian start-up Fanvestory won Tuesday (November 27, 2018) Hamburg’s Music WorX Pitch award of EUR 5,000 for young, innovative companies in the music industry. The company managed by Birgit Karus (CEO), Kristjan Ulst (CTO) and Juko-Mart Kõlar (CVO) won over the nine-member jury with a platform that allows fans to fund new music projects. Musicians receive a cash advance for their copyrighted works while fans obtain a right to future licence fees.
Advancing the development of companies
“We give give entrepreneurs through Music Worx the opportunity to develop their innovative projects and business ideas and establish them in an increasingly digital music industry. Founders from different countries meet and this gives them additional, important impulses and helps to further expand the start-up scene’s international network. Yesterday evening, Hamburg and its lively start-up scene was once again a showcase for the great innovative power and diversity of an industry that we want to further strengthen,” said Dr. Carsten Brosda, Senator for Culture and Media.
More prizes for Hamburg-based start-ups
Laleby came second and scooped EUR 2,000 in prize money from Warner Music, the host of the event. The Hamburg-based start-up presented a music-streaming player for children of all ages. Another Hamburg-based start-up bandnova won an extensive media package from the industry magazine “MusikWoche”. The audience, including several representatives of the Hamburg music industry, chose the sharing platform for band rehearsal rooms. Six international teams of founders from Estonia, Norway, Turkey and Germany had reached the finals of the Music WorX Pitch.
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