|Abbey Road Red's first investment|
Backed buy Universal Music Group (which now owns the studio), Red is offering expertise, mentorship, advice and a testing ground for products in exchange for a 1 to 2% equity stake. The incubator has an ambitious agenda of hosting 3 startups every 6 months.
The first project for red is Titan Reality's Pulse, which was on display at the Red launch in the facility's famous Studio 2 last week.
Pulse is a sensor pad and controller that recognizes objects on its surface and in the air, enabling you to play a virtual instrument without having to physically touch a control surface. The device will be released by the end of the year with a retail price of around $1,200 US.
This is a great thing for the music tech industry in that traditional money sources have difficulty grasping the music market and the significance of a product, therefore making the money raising process somewhat harder than other tech segments. Find out more about Abbey Road Red here.