Digital Catapult recently announced their newest cohort of their program dedicated to supporting Black entrepreneurs in the digital entertainment space.
Created in partnership with Sony Music UK, this cohort was selected for its work creating solutions using deep tech, such as virtual, augmented, and mixed reality. All companies selected are involved in online gaming, music production, or other forms of storytelling.
While Code and Culture focuses on the intersection of rap lyrics and tech, Cambridge XR uses virtual reality to honor the history of aviation, Mismatch Studios designs digital clothing for the online world and Immersely works on incorporating biometrics to better game designs.
SymphoMe mixes music and AI, Syncd:in Limited ensures global music rights for Black artists while TwoShot LTD uses technology to filter through any copyright issues in music created by AI.
BeGenio Tech Ltd, an immersive gaming application created to mix gaming and education; Cetri.fi World, a blockchain and AR company dedicated to artist certification, and Wellvrse, a company dedicated to mixing health, art, and VR for mental health, are also part of this year’s cohort.
🚀 Digital Catapult, in partnership with @SonyMusicUK @sonymusicpubuk, welcomes ten startups to the Black Founders Programme. These trailblazers are set to revolutionise the creative industries with deep tech – read more: https://t.co/vN8uJi9Cef #BFP #Innovation pic.twitter.com/NlE2z05IaE
— Digital Catapult (@DigiCatapult) September 20, 2024
“By focusing support on Black tech entrepreneurs, the program aims to provide them with knowledge and connections that can lead to future investment opportunities,” said Jessica Rushworth, the Chief Policy & Strategy Officer for Digital Catapult, per a statement. “To ensure long-lasting, positive impact is made for the founders and the UK Black tech community, the programme is further bolstered by support from expert consultants and mentors from across the entertainment and tech industries.”
Created last year, the Black Founders Programme provides support for Black founders to ensure they have opportunities for networking. Through the creation of connections, the programme supports the expansion of Black-owned businesses, particularly in the tech field.
Currently, there is a lack of representation in the UK tech field. According to the Tech Talent Charter 2023 report, only 3% of all of the workers in the tech workforce are Black. Black women make up an even smaller percentage of the tech field, comprising only 0.7% of all tech employees.
The Black Founders Programme program has helped address this lack of representation by providing the first cohort with more opportunities to pitch to interested investors and learn more about the industry.
“Companies in the 2023 cohort have since formed partnerships with large corporates, received interest from angel investors and 80% reported that they had increased their investment readiness as a direct result of working with Digital Catapult and Sony Music Group,” said a representative for Digital Catapult. “Now in its second year, this initiative supports Black entrepreneurs to increase their investment readiness by providing mentorship and investment knowledge to help scale and commercialise deep tech solutions.”
