The BPI has launched a “scale-up and growth programme” for new technologies, innovations and ideas in the music industry.
Billed as the first of its kind, Grow Music has been developed in partnership with business growth agency London & Partners. Programme partners include Anthony David King, Abbey Road Red, Angel Investing School, UK Black Tech and Measure of Music.
The BPI says Grow Music will deliver a unique dual strand programme to help London based scale-ups grow their companies. The first strand will be a 12-week business support programme, beginning in September, for 25 London-based SMEs who have a product, service or idea that could scale and add value to the music industry. Applications for places opened this week.
A five-week ‘Angel Investing School’ for high-net-worth individuals from underrepresented backgrounds is also planned, alongside an ‘Investor Hub’ to help startups and investors learn about the music industry.
Grow Music was launched out of BPI’s Insight & Innovation department and has received almost £200,000 in funding from the government’s UK Shared Prosperity Fund.
“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,” said BPI’s Chief Strategy Officer Sophie Jones.