Jerusalem, Israel: MassChallenge Israel, part of MassChallenge's global network of zero-equity startup accelerators, has announced it has joined Universal Music Group’s Accelerator Network, an expanding organization consisting of prominent startup accelerators in key enterprenurial centers around the world. Universal Music Group (UMG), the world’s leading music-based entertainment company, launched its Accelerator Network to support a robust enterprenurial ecosystem in the music industry. UMG and MassChallenge Israel will work together to identify and foster the next generation of entertainment-focused startups coming out of Israel.
MassChallenge Israel is the first accelerator that UMG has partnered with in Israel.
“We are delighted to welcome Mass Challenge Israel to the UMG Accelerator Network,” said Tuhin Roy, Senior Vice President, New Digital Business and Innovation at Universal Music Group. “Mass Challenge has a tremendous track record of connecting startups to the deep resources available in the Israeli start-up ecosystem and beyond through its sister programs around the world. We look forward to working together to foster a new generation of entertainment-tech startups.”
“Universal Music Group has been on the cutting edge of technology, culture and entertainment for decades and we're excited to be partner with them to catalyze even more of that innovation in Israel,” said Yonit Serkin, Managing Director, MassChallenge Israel. “MassChallenge Israel is connecting best of class startups to the global companies that can help them grow and build market share and we are thrilled to welcome UMG to Israel and to our community!”
As part of the MassChallenge Israel four-month equity-free accelerator program in Jerusalem, MassChallenge startups get access to:
- Up to 500,000 NIS in cash prizes
- The opportunity to join an all-inclusive, curated international business trip, that gives participating startups unparalleled access to and exposure in two U.S. markets
- Personalized mentorship from more than 150 industry experts from the Startup Nation
- Introductions to top corporate partners and investors
- Four months of free office space in Jerusalem
MassChallenge Israel is an innovation engine catalysing the highest potential entrepreneurs to create global impact. We believe that the best ideas know no religion, nationality and background. Since 2016, 207 alumni companies of MassChallenge Israel have raised over $250 million and created over 7,000 direct and indirect jobs globally.
MassChallenge is a global network of zero-equity startup accelerators. Headquartered in the United States with locations in Boston, Israel, Mexico, Rhode Island, Switzerland, and Texas, MassChallenge is committed to strengthening the global innovation ecosystem by supporting high-potential startups across all industries, from anywhere in the world. To date, our 2,344 MassChallenge alumni have raised more than $5 billion in funding, generated more than $2.7 billion in revenue, and created more than 136,000 total jobs. Learn more about MassChallenge at masschallenge.org.
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 about UMG’s additional digital innovation initiatives at https://www.universalmusic.com/digital-innovation/.
Universal Music Group
Tel: 310 865 0132