Khalid with Courtney Stewart , founder of Right Hand Music Group, which has newly partnered with startup accelerator Techstars Music.In the last few months, there’s been more public discussion than ever about fairness, transparency, and opportunity in the music business.
We do this with the help of our member companies — Warner Music Group, Bill Silva Entertainment, Sony, Concord, Royalty Exchange, AVEX Inc., Peloton, Entertainment One and Amazon Music — companies who are both investors in our fund and our partners in selecting each year’s class and running the program.
The global music business is facing both unprecedented challenge and opportunity. Now, more than ever, we need to do our part to support entrepreneurs regardless of their cultural background, economic status or physical location. But these first two small and specific changes alone are not enough. If we commit to investing in founders from underrepresented communities, we must make sure we supply enough capital for these founders to truly succeed, and we also need to diversify the voices on our selection committee to help us make better decisions and challenge our habits and biases.
These additional funds, currently $180,000 upon acceptance and as much as $200,000 in post-program funding, will provide startups led by diverse CEOs with up to three times the normal Techstars accelerator capital — more than enough to cover an additional early employee salary and six to nine months’ worth of operating runway.Concord Impact Investing Initiative
We are excited to welcome Right Hand Music Group to Techstars Music. Founded by Courtney Stewart, Right Hand represents global superstar Khalid. Courtney and his team will join our investment committee effective immediately. This is our first member company owned by a person of color, and it will not be our last.
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techstars Ivans Blanze