The digital media ways of distribution have brought on many opportunities for independent artists, but also left them with minimal tools to generate revenue from their art. The main challenge of the art community today is dealing with the need to develop a new business model that will be relevant and help artists in the digital era. TechnoArt has been founded with this goal in mind: beginning its first cycle this summer in Tel Aviv, TechnoArt is an incubator for technological startups developing innovative technologies in the field of culture and art, and working to solve the business model of this industry.
A startup accepted into the incubator will receive up to $100,000 in services, funding and support throughout the year. Each startup will be mentored by an experienced leading figure from the Israeli art, business and technology communities. The startups must meet the following criteria: presenting an alternative business model for the world of art, demonstrating technological innovation and an understanding of the user base.
Tel Aviv has evolved into one of the world’s leading hubs for technology and innovation, recently ranked by Compass 2015 Global Startup Ecosystem Ranking as the world’s first startup ecosystem outside the US. This Nonstop City is a prime destination for entrepreneurs and investors, and is a flourishing ground for accelerators and incubators.
TechnoArt founder, Shani Peled: “TechnoArt will give technological entrepreneurs the platform to be part of building a new business model for artists. Using the tools the incubator provides we expect these startups to develop a framework that will lead to a global change, and we are proud that the change begins in Tel Aviv.”
Tel Aviv Global Director of Economic Development, Gilad Uziely: “Tel Aviv is not only its vibrant startup ecosystem; it is also its nonstop cultural hub, a center for artistic innovation. Just like Tel Aviv, TechnoArt is all about mixing art and technology in order to lead both communities in the digital era, meeting both opportunities and challenges.”
TechnoArt is first in a series of microfunds established by Socialterminals, a US based investment firm. Additional partners of the hub include: Deloitte, Yigal Arnon Law Firm, G Group and UNIK (PR) Y.A Technologies and more.