Luxembourg further backs ANote Music as a Young Innovative Enterprise
ANote Music (“ANote”), Europe’s leading marketplace for investing in music royalties, is pleased to announce it has been granted a Young Innovative Enterprise subsidy with the support of Luxinnovation, the Luxembourg national innovation agency. The programme is part of the wider Research, development and innovation aid scheme of the Luxembourg Ministry of the Economy promoting the development of young innovative enterprises based in Luxembourg, and foresees the award of an up to €800,000 cash grant.
The grant, that matches private investment, will prove fundamental for ANote’s progression and expansion. The firm has already grown significantly since its launch in July 2020, increasing the total valuation of its closed catalogue deals to more than €6,500,000, while expanding its expertise by onboarding Matthew Knowles, founder of Music World Entertainment Corporation, and Carlo Antonelli, a renowned figure in Italy’s entertainment scene, as Senior Advisers.
With the extended support of the Ministry of the Economy, ANote is set to continue along this impressive growth trajectory with the number of registered investors expected to double to 20,000 by year end.
Stefan Berend, Head of Start-up Acceleration at Luxinnovation, commented: “Following ANote Music's participation in our start-up acceleration programme Fit 4 Start back in 2019, it is a pleasure to see the firm once again benefit from Luxembourg’s R&D and innovation support through the Young Innovative Enterprise instrument, which aims to facilitate efficient upscaling of promising young businesses.”
The grant will be used to expand ANote’s team, allowing for the further development of its Intellectual Property research to elevate the company’s product pipeline and evolution and its overall customer experience.
Marzio F. Schena, founder and CEO of ANote Music, says: “We’re delighted that the Ministry offers continued support to ANote as we work to expand our research capabilities. We are very proud to be aligned with the country’s reputation for growing innovative businesses. The grant is a significant step in our fundraising program and will play a critical role during the company’s next phase, where we go from start-up to scale-up, supporting our IP development, enabling us to continue our contribution and innovation within the music royalties’ industry.“
ANote offers music rights holders the opportunity to list a portion of their rights up for auction. It is a leading European player in the industry redefining how the music industry is monetised. Via the firm’s innovative online marketplace, music fans and investors of all categories are given the option to directly own shares of their favourite hits, which include swathes of tracks performed by international household names including Avicii, Avril Lavigne, The Beach Boys and Drake. These shares can then be traded and exchanged with other investors.