Creative economy fund for underserved communities launches with an investment in Techstars

ImpactAlpha Editor

Amy Cortese

ImpactAlpha, Oct. 8 – Concord, a music and theatrical publishing and management firm, has created a $10 million impact investment initiative to support music and theater enterprises in underserved communities.

Its first move: a partnership with Techstars Music.

Concord is committing to a $30,000 seed investment for each of the companies selected for Techstars’ 2021 music accelerator program that meet its criteria, and up to $100,000 in their first outside rounds.

Investments in the creative economy will help drive an inclusive COVID recovery

Techstars Music has pledged to have at least 50% diverse CEOs and founders in its cohorts. (Applications for the 2021 program are open until Nov. 13).

The funding is in addition to Concord’s annual investment in Techstars Music, which it has supported since 2018.