The Country Music Association is teaming up with The Nashville Entrepreneur Center to create what they are billing as the first music business accelerator. The music business accelerator is a 14-week program that will develop six to eight startups into investable businesses for the music industry ecosystem in Nashville. Each startup will receive a $20,000 investment in exchange for equity.
Startups from all over the world are invited to apply by submitting proposals for their new music business ideas. The global competition will culminate in four rounds to select the top six to eight ideas that will participate in the accelerator. After the global competition, the accelerator will commence at the Nashville Entrepreneur Center.
"Nashville is the logical place to launch this program,” said Michael Burcham, CEO at the EC. "Music City is also the Entrepreneurial City and the ‘it’ city, where dreams become reality.”
“CMA was created to advance Country Music and provide a forum for new ideas that support our business interests across every segment of the industry,” said Sarah Trahern, CMA Chief Executive Officer. “This is an investment in the future of our business community and city.” - via Celebrity Access