Since 2011, the Hamburg Ministry of Culture has been funding startups in the music industry in co-operation with the Hamburg Kreativ Gesellschaft. As existing revenue models in the sector are increasingly being called into question in recent years, Hamburg is thus offering opportunities for new approaches. To reduce risks, the funding scheme Music WorX consists of various modules, including the Music WorX Accelerator and the Music WorX Day.
Three Teams Selected
The qualification programme “Music WorX Accelerator 2015“ started on 31 August 2015. Having successfully passed the application process, three Hamburg startups will now be participating in an intensive, three-month programme to advance the development of their business model: “Crowd Mates”, “Indigo Engineering” and “Sound Notation”. In addition to workspace at Beta House Hamburg, the three teams of the “Music WorX Accelerators” will be participating in weekly workshops on various startup subject. Furthermore, 500 euro will be granted as a living allowance to each participant each month. Last but not least, the teams will also receive an additional 5,000 euro to pay for services needed for the development of the company.
Mentoring at Reeperbahn Festival
At the upcoming Reeperbahn Festival Conference, the teams will also receive mentoring by international investors in the frame of the “Startups@Reeperbahn“ event. Also, applications are now open for the “Music WorX Day“ . On 30 November 2015, up to six startups and young founders will be invited to pitch in front of potential investors and jurors from the music industry during a pitch at Hamburg’s Nochtspeicher. The winner will be honoured with a prize money of 5,000 euro; all finalists will be given a grant to cover the cost of travel and accommodation. Finalists will be named by the expert jury by 15 October 2015.
First Steps to Success
“With Music WorX, the Hamburg Senate offers a funding scheme unique in Germany. We not only offer a network to the music industry, but also provide best conditions for young startups, in particular, to guarantee that their great business idea will successfully enter the market”, said Dr Horst-Michael Pelikahn, Secretary of State of the Hamburg Ministry of Culture. “Music WorX acts. Since 2011, we have supported quite a few Hamburg companies in their first steps to success. Also in 2015, I see great potential. At the German Music WorX Day, the Hamburg music startups will have to show where they stand in national comparison”, adds Egbert Rühl, managing director of Hamburg Kreativ Gesellschaft.