Troy Carter’s Atom Factory Announces Tech Accelerator SMASHD Labs | Billboard
July 22, 2015 - Finding Carter
Troy Carter, whose association Atom Factory represents John Legend, Miguel and Meghan Trainor, among others, is launching a tech accelerator he’s pursuit SMASHD Labs, a hermit of sorts to a entrepreneurship-focused editorial site SMASHD.co, launched progressing this year.
SMASHD Labs will take between 5 and 7 nascent tech companies whose concentration is party and enlightenment and house them for 10 weeks in a Atom Factory’s Los Angeles office, providing them with $50,000 in appropriation and a resources of a highly savvy organisation of investors and entrepreneurs that will travel them by a weekly “curriculum” in sequence to concentration and define their idea. (Carter’s try firm, AF Square, has investments in Spotify, Uber, Dropbox and Warby Parker, among others.) SMASHD Labs starts usurpation applications on Aug. 7 and will interpretation a routine Sept. 14.
Speaking with Billboard on a eve of a announcement, Carter described his prophesy for anticipating a subsequent Instagram.
Billboard: Can we travel me by this?
Carter: We’ve been investing in early theatre tech companies given 2011 during Atom Factory, and spending a lot of time with our portfolio companies. One of a deficiencies we saw in a lot of a accelerator programs and VCs was a area of branding, patron acquisition, how to build community, communications — all of the things that we specialize in as a company. So we motionless to open adult a area of imagination to a tiny organisation of technology companies.
What does this curriculum demeanour like?
It’s curriculum based, so any week it’s different. For a many part, companies come in and rise their product, by a 10-week program. We’re still assisting companies that we invested in in 2011, so once we make that commitment, we’re in for a life of a company.
What have we schooled with AF Square?
It takes a village. The some-more smarts we put around a problem a easier a solution. Gone are a days where a person goes off on their possess and creates a association that becomes value billions of dollars. It’s about a network that you’re able to put around that association and that founder.
For this initial organisation we motionless to move in companies to a space we know unequivocally well, that is entertainment, media and audience aggregation.
How prolonged had we been meditative about rising something like SMASHD Labs?
I’ve finished things with tech stars, Disney accelerator — I’ve finished work with Drexel University, some classes during UFC — these are a questions that a lot of entrepreneurs are asking, so we know there’s a blank in this space. There’s unequivocally a huge amount of accelerators out there, though there was a blank for one that focused on brand, and that’s a space we have a lot of experience during and that creates this unique.
Selfishly, it works for a Atom Factory — by being means to put 25 of a smartest entrepreneurs from around a universe in your office?
We get a lot of value out of that as well.
You’ve been articulate to probable participants already?
We haven’t, we wanted to make a routine fair. Up to this indicate we haven’t talked to anyone specific.
What would your ideal applicant demeanour like?
A different group — a crux of my personal goal is to open adult entrepreneurship to everybody, so Silicon Valley doesn’t have a obvious on innovation. we wish to open adult a routine to people outward of that network — a group would be diverse, industrious entrepreneurs with technical imagination that are looking to benefit traction on their product.
Companies that we’ve invested in during an early stage, we famous a patterns of successful companies in a space. We’re hoping to find a one of those darlings.
What does SMASHD Labs get for a $50,000?
We get 3 percent equity interest in a company.
How will SMASHD Labs correlate with AF Square?
This is standalone — a suspicion is for a companies to have entrance to everybody within a association and a network, though it is separate.
What is a trend in party media/tech?
The genuine trend is information — we’re saying companies like Eventbrite benefaction unequivocally constrained data, Spotify and Pandora are presenting a same. Predictable analytics in music.
And what about humans?
There’s always going to be a place for artists — though when we demeanour during what humans have indeed finished to amalgamate music, from a pristine financial gratefulness standpoint, this is a partial where a attention needs a lot of help. There’s no approach in the world that SoundCloud should be value some-more than The Beatles‘ catalog. From a value proposition, we have a outrageous opportunity to re-value a business.
Do we consider some of these tech valuations are overinflated?
No, we consider a song is undervalued. we consider adult to this indicate we’ve finished a bad pursuit of valuing a content.
Did we review a new Berklee news on a song industry?
I suspicion it was engaging — we didn’t do a low dive on a study, though we suspicion they finished some unequivocally current points. The whole thing is, we have to deconstruct a lot of what’s been finished over a final 5 or 6 decades in a business in order to accomplish some of these things. Our business, in terms of rights ownership and particular contracts are a lot more difficult than other media. So we consider it’s easier pronounced than done. But a thing we do determine with 100% is clarity — we have to get to a place where a song labels and a publishers can be totally transparent.
This isn’t a new problem — this problem didn’t come along when streaming came along.
Do we consider some of this could be ameliorated by new technological resources for artists?
I know it’s not as easy as [technology giving peoples’ careers behind to them]. It takes a lot of work and boots on the ground to mangle an artists via a world. The cost for an artist to play a Grammy awards, there’s a cost. To play Jimmy Fallon, there’s a cost. To get your song played on human radio, there’s a cost. It’s not only as easy as signing adult for tag services — contingent on a scale you’re after. I’m a follower that there’s a lot of value with relationships during vital labels, it only depends on a understanding you’re looking for.