Summary:
Michael Adex: Achieved 3 billion streams and launched multiple successful ventures by age 28.
Only 0.2% of UK investments go to black-founded companies.
Adex serves as an ambassador for Digital Catapult’s Black Founders programme.
Launched MODA tequila in 800 Wetherspoon pubs and co-founded Sypz with Aitch.
The program supports startups using immersive technologies in various creative fields.
The Rise of Michael Adex
Michael Adex is the driving force behind a staggering 3 billion streams and a string of chart-topping artists, including the rapper Aitch. By the age of 28, he has already made significant strides in the entertainment industry, launching a talent agency, record label, and a global music publishing business. However, he emphasizes that financial backing is crucial for the survival of fledgling companies.
The Challenge for Black Entrepreneurs
In the UK, the ambition to lead in deep tech—advanced technologies such as AI, quantum computing, and blockchain—faces significant hurdles, particularly for black entrepreneurs. Research from Digital Catapult reveals that only 0.2% of overall investment in the UK is allocated to black-founded companies.
Championing Change
Recognized as one of Forbes’ “30 under 30”, Adex is determined to change the narrative. He serves as an ambassador for Digital Catapult’s Black Founders programme, which supports ten businesses on their journey to commercial success. Past participants have successfully partnered with large corporations and attracted angel investors.
A Year of Growth
This year has been particularly fruitful for Adex, who has launched the MODA tequila brand in over 800 Wetherspoon pubs and co-founded Sypz, a bottled water brand with Aitch, which has been picked up by Iceland. Furthermore, his entertainment agency, NQ, has partnered with Columbia Records UK to showcase emerging music talent from the north of England.
Importance of Resources
Adex stresses the importance of resources in achieving ambition: "Even with ambition, if you want to reach certain levels... you need resources to grow." He believes programs like Black Founders are vital for helping entrepreneurs understand how to raise funds and communicate their visions effectively.
Innovative Startups
The Black Founders programme showcases startups that apply immersive technologies in music production, gaming, storytelling, and education. Notable companies include TwoShot, addressing copyright issues in AI-generated music, Mismatch Studios, creating digital clothing for virtual worlds, and Immersely, which utilizes biometrics and AI for personalized gaming experiences.
Adex’s Journey
Adex’s path to success began in his school days, leveraging connections and opportunities in Manchester. He aims to inspire others by showcasing what black entrepreneurs can achieve. "I never want anyone to feel as if they should limit themselves," he asserts.
Breaking Barriers
Jessica Rushworth, from Digital Catapult, emphasizes that the Black Founders programme is about breaking down barriers for underrepresented entrepreneurs, stating that the innovative solutions from the new cohort will unlock new opportunities for the UK's creative economy.
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