Friday, October 7, 2016
Techstars Launching Another LA Accelerator, Focused On Music
Startup accelerator program operator Techstars is opening up yet another startup accelerator in Los Angeles, focused--appropriately enough--on music. Techstars disclosed this week that the new accelerator, which will run for three months starting in February, will be led by former Twitter Music head Bob Moczydlowsky. The backers of the new accelerator include Sony Music Entertainment, Warner Music Group, Sonos, Harmonix Music Systems, Bill Silva Entertainment, QPrime, Silva Artist Management, and Era of the Engineer. Techstars did not say where exactly the accelerator will be based. The new program will include ten companies, and will provide $100,000 in convertible note funding, $20,000 in cash, and mentoring. Techstars runs the Techstars-Cedar Sinai Health Accelerator in Los Angeles, and until recently had also run the Disney Accelerator, although that is now run in-house by Disney.