Creative Economy | October 8, 2020

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

Amy Cortese
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.

Laura Callanan of Upstart Co-Lab

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.