A pioneering Birmingham company which develops online social
networking games - and helps up and coming music artists get
discovered - has received a cash boost from Midven's Early
Advantage Fund.
Soshi Games, based at Birmingham Science Park Aston, is creating
new revenue streams and global marketing opportunities for the
music industry though its new gaming platform, 'Music Festivals
Game'.
The investment of £125,000 from Midven will help the
company launch the new game, where players build their own music
festivals, play real music tracks and interact with music and bands
in fun new ways. Kevin Corti, CEO and development director, said:
"This funding will be used to significantly enhance our team and
allow us to gain user and industry traction, as we seek more
investment to scale."
It is the latest venture launched by SoshiGames as it rolls out
plans to help build a range of music-based games and apps that not
only help discover new artists but also allow the music industry to
develop new revenue streams beyond the sale of music
tracks.
Players of Music Festivals earn virtual currency through booking
mainline signed acts, but also earn "karma" through booking new
emerging talent. To progress in the game, players must
maximise the "cash and karma" mix, unlocking new features and
rewarding them for interacting with friends' festivals. This unique
gameplay encourages new music discovery in a player-focused fun
way.
Cliff Dennett, commercial and design director for SoshiGames,
said the Midven investment would help fund a full public release of
the game as well as providing working capital for the company into
next year.
He said: "Music Festivals has already launched to a network of
interested individuals and the reaction has been excellent. There
is a real visual incentive for players to return regularly and keep
their festival flourishing. We take a different approach to other
social media game companies, in that players can help generate
revenues for their favourite artists, discover new talent and help
with brand exposure as well as positioning. It's a new approach
that could revolutionise the way we experience music as no one has
yet released a game in this genre. We're very keen to hear from
anyone in the music industry who already has some online social
presence and want to grow this globally."
Midven's Early Advantage Fund provides investment for small
businesses across the West Midlands. The Early Advantage Fund can
make an initial investment of up to £125,000 if matched by
private money and has the capacity to invest further in later
rounds. The fund is open to high growth start-up, early stage small
and medium sized enterprises. The investors in the fund are
Advantage West Midlands and the European Regional Development
Fund.
Duncan Kerr, co-director of the fund, said: "We have been
impressed by Kevin and Cliff's ability to maintain development
momentum while financial resources have been constrained and are
looking forward to the public launch of the game."
Also investing in this round is SoshiGames' new chairman Richard
Gogerty, who said: "I've been impressed with the management
experience and drive in Kevin and Cliff, coupled with a robust and
innovative business model."
SoshiGames's participation in the Entrepreneurs For The Future
(E4F) programme at the Birmingham Science Park Aston gave the
founders the kind of support that innovative early-stage technology
businesses need, including access to consultancy, office space,
other facilities and media exposure.
Music Festivals Game is out now in pilot form on Facebook. You
can register at http://signup.musicfestivalsgame.com to receive an
early preview and interested music industry partners should contact
Cliff Dennett at SoshiGames (cliff.dennett@soshigames.com).
For more information about Midven, please visit their website
here: www.midven.co.uk