SparkLabs joins Universal Music Group’s Accelerator Engagement Network

08 December 2017 - Press release

SparkLabs Group (www.sparklabsgroup.com), which oversees the leading accelerator network in Asia, is joining Universal Music Group’s (UMG) recently announced Accelerator Engagement Network to develop music-related start-ups.

UMG, the world-leader in music-based entertainment, will work closely with SparkLabs Seoul and SparkLabs Taipei to assist in the evaluation and development of music-based start-ups. UMG will contribute music industry expertise during the application process and mentor accepted digital music companies.

“We are excited to be working with UMG through SparkLabs Seoul and SparkLabs Taipei.  We believe their involvement in these programs will help attract and spur innovation within the music industry,” stated Eugene Kim, a Partner at SparkLabs Seoul (www.sparklabs.co.kr).

SparkLabs accelerators’ graduates have an average raise of over $3.5 million with 80% of their startups receiving funding after the program, which places them as one of the best accelerators in the world.  SparkLabs’ startups also average over $500,000 in funds raised prior to entering their accelerator programs.

“SparkLabs has a fantastic track record of driving the growth of innovative and successful start-ups,” said Tuhin Roy, UMG's Vice President of New Digital Business. “We are excited to work with their team to foster the next wave of Asia-based digital music start-ups.”