Last week, we reported on the 8 startups that had been selected for MUSIC techpitch 4.5 in London. And last night, following a series of 3-minute pitches and Q&A sessions, Webdoc emerged as the winner.
Taking place at EMI’s HQ in Kensington, London, MUSIC techpitch 4.5 was set-up to give startups involved in the music space a platform to pitch for investment, and network with industry experts. Up for grabs was the chance to participate in an investment meeting arranged by Par Equity, which is one of the largest investment networks in Scotland.
It’s probably also worth acknowledging that 3 minutes isn’t a long time to properly convey an idea. And last night highlighted how important it is for startups to hone their pitching skills – it wasn’t always immediately obvious exactly what the product did, or who it was aimed at. Of course, a lot of the time, startups will have longer than 3 minutes to pitch their products, but last night really stressed the importance of honing the elevator pitch. It’s probably worth checking Dave McClure’s 10 tips for the perfect investment pitch.
However, following a round of voting from the judges, encompassing a 1-5 rating scale covering things like ‘scalability’, ‘business idea’ and ‘pitch’, and a show of hands from the audience which concurred with the judges’ votes, Webdoc scooped a bottle of bubbly and a chance to pitch for investment.
We first reviewed Webdoc back in May, which we described at the time as follows: “Webdoc is like a digital scrapbook that lets you reuse existing content online, as well as upload and throw your own fresh content into the digital mix.”
Webdoc seemed to have a lot of people talking at the event, and whilst there’s no surefire way of knowing what the next ‘big thing’ will be, we do think Webdoc is one to watch out for. Whilst it isn’t specifically for use by the music industry, it does seem to lend itself very well to bands and musicians, as we saw last month when we reported that Universal Music Group is using Webdoc on its Nirvana fan Page on Facebook.
Dizzyjam was another startup to spark some interest, an online service for independent music artists to create and sell their own merchandise. And Hitlantis was definitely an interesting initiative, presenting a different way of visualizing and discovering new music.
The music tech space is an interesting one, and as we’re starting to see with some of the startups emerging, the industry is ripe for innovation.