German Start-Up Wins Music Business Enterprise Competition at Rethink Berlin
The Berlin company Nagual Sounds GmbH was named Rethink Music Next Generation Enterprise, winning a business start-up package worth over $10,000. Nagual Sounds was one of 12 finalists at the inaugural Rethink Music Venture Day, held at the NH Music and Lifestyle Hotel in Berlin on October 24.
“Our first ever Rethink Music Venture Day was a huge success," said Allen Bargfrede, executive director of Rethink Music from Berklee College of Music. "We were delighted to welcome speakers and judges from leading international music businesses and investment companies, as well as so many talented and driven music business entrepreneurs from the United States, Canada, and throughout Europe. We plan to continue Venture Day as part of our series of global events,”
Nagual Sounds developers pitched their company on its ability to empower users to create music through movement. Their prototypes, Nagual Dance and Nagual Care, showed how their technology and software transforms data created through physical movement into interactive music with tonal structure. Products in the planning stages range from dance games to therapy applications. The prizes included $10,000 in legal services through an in-kind donation from Duane Morris, LLP, enrollment in an online certificate program from Berkleeonline.com, complimentary registration for Midem 2014, and stay at any NH Hotel across the world.
Second place winner Frestyl, from Berlin, builds applications for people to receive last-minute recommendations for concerts and exclusive specials offered by event organizers. In third place, TurnMeUp, based in Canada, mixes voice and music through a one-of-a-kind mobile application to enhance social activities ranging from yoga to house parties.
“The start-up pitches provided an intense climax to the day with some extremely polished and very inventive and creative ideas," said Bargfrede. "The time the judges spent deliberating showed just how challenging it was to make the final decision.”
Rethink Music, a global music think-tank created by Berklee College of Music and Midem, hosted the Berlin Venture Day in partnership with IE Business School. The event welcomed guest speakers and judges from leading international music businesses, including Napster, BMat, Creandum, Epidemic Sound, Ampya, KKR Investments, Gelardin Capital, UrTurn, Sound Diplomacy, and Digital Media Technology, as well as MusikMarkt magazine. The one-day networking event featured workshops and discussions to assist entrepreneurs in launching their businesses in today's music industry.
The next Rethink Music event will take place as part of Biscay International Music Experience, BIME, in Bilbao, Spain on November 20. This will be an intensive three-hour workshop on business models for video game music.