Seoul-based SparkLabs Joins Universal Music Group’s Accelerator Engagement Network to Promote the Development of Digital Music- Startups in Asia

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SparkLabs Seoul and SparkLabs Taipei Partners with UMG

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“SparkLabs has a fantastic track record of driving the growth of innovative and succesful start-ups,” said Tuhin Roy, UMG's Vice President of New Digital Business. “We are excited to work with their team to foster the next wave of Asia-based digital music start-ups.”

SparkLabs Group (http://www.sparklabsgroup.com), which oversees the leading accelerator network in Asia, is joining Universal Music Group’s (UMG) recently announced Accelerator Engagement Network to develop music-related start-ups.

UMG, the world-leader in music-based entertainment, will work closely with SparkLabs Seoul and SparkLabs Taipei to assist in the evaluation and development of music-based start-ups. UMG will contribute music industry expertise during the application process and mentor accepted digital music companies.

“We are excited to be working with UMG through SparkLabs Seoul and SparkLabs Taipei. We believe their involvement in these programs will help attract and spur innovation within the music industry,” stated Eugene Kim, a Partner at SparkLabs Seoul (http://www.sparklabs.co.kr).

SparkLabs accelerators’ graduates have an average raise of over $3.5 million with 80% of their startups receiving funding after the program, which places them as one of the best accelerators in the world. SparkLabs’ startups also average over $500,000 in funds raised prior to entering their accelerator programs.

“SparkLabs has a fantastic track record of driving the growth of innovative and succesful start-ups,” said Tuhin Roy, UMG's Vice President of New Digital Business. “We are excited to work with their team to foster the next wave of Asia-based digital music start-ups.”

About SparkLabs Group

SparkLabs Group comprises of SparkLabs accelerator network, Asia’s premier startup accelerators; SparkLabs Global Ventures, a leading seed stage fund; SparkLabs Ventures, a localized early-stage fund (Series A & B) in South Korea; SparkLabs Capital, a late stage investment vehicle. SparkLabs accelerator network consists of SparkLabs Seoul, SparkLabs Beijing, SparkLabs IoT & Smart Cities (Songdo, South Korea), SparkLabs Taipei and SparkLabs Cultivate (Sydney). For more information, please visit http://www.sparklabsgroup.com

About Universal Music Group

Universal Music Group (UMG) is the world leader in music-based entertainment, with a broad array of businesses engaged in recorded music, music publishing, merchandising and audiovisual content in more than 60 countries. Featuring the most comprehensive catalog of recordings and songs across every musical genre, UMG identifies and develops artists and produces and distributes the most critically acclaimed and commercially successful music in the world. Committed to artistry, innovation and entrepreneurship, UMG fosters the development of services, platforms and business models in order to broaden artistic and commercial opportunities for our artists and create new experiences for fans. Universal Music Group is a Vivendi company. Find out more at: http://www.universalmusic.com.

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Bernard Moon
SparkLabs
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