Applications now open for BPI’s first-of-its-kind innovation programme for London, East and South East SMEs 12 Aug 2024
Launched in partnership with London & Partners, Grow Music is a scale-up and growth programme for new technologies, innovations and ideas to support the music industry in collaboration with leading music industry partners
The BPI, the trade association for the UK’s record companies and labels and the representative voice of British recorded music, recently announced a partnership with business growth agency, London & Partners, to deliver a first-of-its-kind, innovation programme for the music industry.
Titled Grow Music, the programme will position London as a hub of music technology, innovation and growth, bringing together the music industry and best-in-class innovation leaders. Programme partners include Anthony David King, Abbey Road Red, Angel Investing School, UK Black Tech, andMeasure of Music. Grow Music will receive £199,986 from the UK government through the UK Shared Prosperity Fund to delivery its three interlinked programmes.
As part of Grow Music, applications are now open for a 12-week business support programme for 25 London, East and South East-based SMEs who have a product, service or idea that could scale and add value to the music industry. Designed by Anthony David King and supported by Abbey Road Red in scouting, diligence and mentorship, the programme is designed to grow and test their business and ideas, providing unparalleled access to the beating heart of the UK recorded and live music industry.
Entrants must have a minimum of two employees and a turnover or investment of over £50k. All entrants must have actionable plans for growth and an active interest in the music industry. For full application details, click here. The final selection will be announced by 09 September 2024.
Modules will include making fruitful connections, routes to investment, understanding the music industry alongside in-person mentoring, networking and pitch events. The programme will be hybrid, with an opening Kick Off Weekend and closing Award Ceremony at London’s iconic Abbey Road Studios. After the first cohort, information and resources from the programme will also be available on demand, allowing more companies outside of London and the UK to benefit. The programme will officially launch at Abbey Road Studios on 14 and 15 September 2024.
To register your interest in taking part, please email growmusic@bpi.co.uk.
Alongside this in its second stream, Grow Music will deliver a bespoke online five-week Angel Investing School to develop and educate experienced professionals from all backgrounds on the opportunities of investing at the intersection of music and technology. For the first time, the UK ecosystem will be directly supported through a specialist programme, introducing new angel investors ready to help shape the future of early-stage innovation in the music industry.
This free-to-attend online programme will teach participants about angel investing, and its role in the wider music and technology ecosystem. Modules will include how to find great entrepreneurs, conducting due diligence and investing economies. The school will be run by Angel Investing School creator, Andy Ayim MBE, who has trained over 600 new angel investors across over 30 countries including the US, Singapore, Nigeria and Moldova and supported by Abbey Road Red in mentorship.
Applications for Grow Music's Angel Investing School are now open for global applicants. Applications are welcome from individuals from a wide range of underrepresented backgrounds, with an interest and passion for music and the wider creative and entertainment industries.
The school will run across November 2024, online, on Wednesdays from 4-6pm GMT and is designed to fit around work and life commitments. For UK-based participants, there will be a Graduation Ceremony hosted at Abbey Road Studios in early 2025. Further details, including an in-depth course outline and the application form, can be found here or by emailinggrowmusic@bpi.co.uk.
BPI and partners will also launch a brand new, white-labelled Investor Hub, granting early-stage companies access to both the music industry and investors who are expressly interested in the sector.
Grow Music was launched out of BPI’s new Insight & Innovation department. Acting as 'A&R for technology for the music industry’, BPI Insight & Innovation works with over 130 global start-ups and scale-ups who are interested in testing, piloting and bringing their ideas to the UK music industry.
BPI’s Chief Strategy Officer Sophie Jones said: “We are delighted to be working with our partners and London & Partners so we can support technology that drives innovation in the music industry. BPI’s vision is for the UK music industry to be a central hub for testing ideas, meeting industry partners and securing investment, and the launch of Grow Music brings us closer to that goal. Huge congratulations to our Insight & Innovation team on winning the London & Partners bid and launching this first-of-its-kind programme.”
BPI’s Director of Insight & Innovation Leon Neville said: "Innovation in the music industry is fundamental to driving it into the future, and so we are delighted to shine a global spotlight on the passion, integrity and intelligence of our UK music industry. Together with our world-class partners, we are excited to get Grow Music underway and drive real change in this space"
Janet Coyle CBE, Managing Director of Grow London at London & Partners said: “In London the creative industries, technology and finance intersect more closely than anywhere else in the world – making it one of the best places to start a music technology company. The launch of Grow Music is incredibly exciting and the programme will be instrumental in supporting growing companies to make the most out of what London has to offer.”
Abbey Road Studios Managing Director Sally Davies said: “This unique program for London will invigorate music tech founders and the investment scene, addressing the critical challenge of scaling successfully. We are thrilled to bring our eight years of pioneering experience at Abbey Road Red, offering mentorship in the iconic setting of Abbey Road Studios. This initiative aims to inspire and support both founders and investors throughout their journey, celebrating their achievements and learning along the way.”
Angel Investing School Creator Andy Ayim MBE said: "Europe has produced some of the most innovative tech startups with roots in music from Spotify to redefining live experiences like Sofar Sounds. Angel Investors are a little known but vital source of capital, support and expertise for early-stage startups such as Apple and Uber who all benefited from angel investors at the start of their journeys."
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THE HEADLINES
Quarter of 2023's biggest songs on the German chart first found success via TikTok (see Analysis)
Streaming’s growth plan in the connection economy (see Opinion)
Universal Music predicts profits will grow 10% every year for the next four years (see Business)
ATC Group launch transatlantic music promotions company Circa (see News)
Spotify says it paid 1% of a $10m streaming fraud scheme’s royalties — so where did the other 99% come from? (see Digital)
Spotify looks to pay video creators to put shows on platform; launches interview series (see Digital)
Can Labour revitalise the UK’s creative industries? (see Comment)
IFPI releases inaugural Music In The EU report (see Reports)
WME's Lucy Dickins interviewed (see Features)
SoundCloud CEO Eliah Seton interviewed (see Features)
Industry presses government to solve post-Brexit limits on touring (see News)
Revealed: the touts offering Oasis tickets (see Features)
English Teacher win Mercury prize (see News, Features)