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First Music Business Accelerator Launched in Nashville

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Nashville Entrepreneur Center/CMANashville, TN -- The Nashville Entrepreneur Center (EC) and CMA have teamed up to produce the first-ever, music business accelerator. The program leverages the EC's proven accelerator formula with the industry strengths of title partner CMA, for the development of the music industry.

The traditional music business model and the newer digital access model are both in transition. Most stakeholders agree that the current state of affairs in the music industry does not benefit its constituents, which leaves innovation as the key to the future of the industry.

"Nashville is the logical place to launch this program,” said Michael Burcham, CEO at the EC. "Music City is also the Entrepreneurial City and the ‘it’ city, where dreams become reality.”

The music business accelerator is a 14-week program that will develop six to eight startups into investable businesses for the music industry ecosystem in Nashville. Each startup will receive a $20,000 investment in exchange for equity.

“CMA was created to advance Country Music and provide a forum for new ideas that support our business interests across every segment of the industry,” said Sarah Trahern, CMA Chief Executive Officer. “This is an investment in the future of our business community and city.”

Startups from all over the world are invited to apply by submitting proposals for their new music business ideas. The global competition will culminate in four rounds to select the top six to eight ideas that will participate in the accelerator. After the global competition, the accelerator will commence at the Nashville Entrepreneur Center.

"Nashville is the place where the best possible mentors for music and technology intersect. Any of our future startups will have a dream team to help them realize their vision," said Joe Galante, master mentor at the EC and member of the CMA Board of Directors.

The accelerator will support the development of new business models for the music industry, seeking to help programmers, technology engineers, and music business entrepreneurs create a sustainable future for the industry.

For more information, or to get involved, please visit http://www.ec.co/music-tech-media/

The EC connects Entrepreneurs with Investors, Mentors and the Critical Resources they need to accelerate the launch of startup businesses.The EC fosters innovation and entrepreneurship by Turning Ideas Into Reality, helping to start businesses and create jobs. As a non-profit 501(c)3 organization, the Center is funded through sponsorships, partnerships, donations and grants. The EC relies on support from leading corporations, successful entrepreneurs and those who have a vested interest in the Center’s success. For more information, visit http://www.ec.co/

Founded in 1958, the Country Music Association was the first trade organization formed to promote a type of music. In 1961, CMA created the Country Music Hall of Fame to recognize artists and industry professionals with Country Music’s highest honor. More than 7,400 music industry professionals and companies from around the globe are members of CMA. The organization’s objectives are to serve as an educational and professional resource for the industry and advance the growth of Country Music around the world. This is accomplished through CMA’s core initiatives: the CMA Awards, which annually recognize outstanding achievement in the industry; CMA Music Festival, which benefits music education and is taped for a three-hour TV special; and “CMA Country Christmas,” featuring Country artists performing original music and Christmas classics. All of CMA’s television properties will air on the ABC Television network through 2021. For more information, visit http://CMAworld.com/

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