Vienna / Cannes (A / FR) The Austrian company Legatory analyzes music streaming data, detects errors, and makes visible manipulation attempts. For the first time, artists and music labels have the ability to check huge amounts of data and confirm statements. Now, the company founded by DI Nermina Mumic has won one of the most important initial competitions in the music industry. "An incredible success: Never before has the Austrian company been nominated for the final, not to mention winning," says Mumic.
177 submissions, 4 categories, 20 finalists
Midemlab is an international start-up event in the music industry and is held every year in Cannes during Midem, one of the largest industrial events. In total, 177 business ideas from 45 countries were submitted, of which 20 finalists were nominated in four categories. Live, young entrepreneurs had to convince an expert jury. "I had five minutes to present my business idea. It was quite a challenge for such a complex subject," said Mumic, who won the Marketing and Data / Analysis category.
Access to potential investors
The victory in Midemlab not only pays much attention to Mumic, but also creates access to potential investors. In the past, the winners were able to acquire significant investment capital or were bought by the main players in the market. For example, after only four months Apple bought Asaii and Skoove raised $ 3 million (the two winners of 2018). "Here the success stories of Soundcloud and Kickstarter started," Mumic said, "a great opportunity for starting Austria as a legitimate one."
About Legatory GmbH
Legitimate is an Austrian start-up based in Vienna, which analyzes and validates data for music streaming services. The Legitimacy was founded in early 2019 by D.I. Nermin Mumic, Guenter Loibl (Rebbeat) and Univ.-Prof. Dr. Peter Filcozer (University of Technology in Vienna).