Universal Music Group’s recently announced music start-up project is ramping up its operations by partnering with leading Asian digital company SparkLabs Group.
Universal’s Accelerator Engagement Network, announced in October, will work closely with SparkLabs, which operates incubator programmes in Seoul and Taipei, to develop music-related start-ups. UMG will contribute music industry expertise during the application process and mentor accepted digital music companies.
“SparkLabs has a fantastic track record of driving the growth of innovative and successful start-ups,” said Tuhin Roy, UMG's VP of new digital business. “We are excited to work with their team to foster the next wave of Asia-based digital music start-ups.”
“We are excited to be working with UMG through SparkLabs Seoul and SparkLabs Taipei. We believe their involvement in these programmes will help attract and spur innovation within the music industry,” said Eugene Kim, a partner at SparkLabs Seoul.
The music business has become increasingly interested in investing in start-ups in recent years, with the likes of Abbey Road Red and Warner Music Group’s The Firepit also running incubator projects.