The Mississippi Seed Fund has awarded Seed Fund Proof of Concept awards to two companies recently.
EM Boards has developed a longboard system that gives the rider the ability to jump over and avoid obstacles. The system is a hybrid electrical-and-mechanical solution centered around the use of a remote, a set of electro magnets attached to the longboard and a custom shoe attaching the rider’s feet to the board when the electromagnets are activated. The electromagnet system could also be applied to other recreational products.
Live Music Network (LMN) is developing a mobile application that revolutionizes the outdated tip jar, giving bands access to an untapped source of revenue and fans a far better experience. Besides enabling simple tipping, The LMN app adds a new revenue dimension for the band.
The app enables fans to bid on the band’s set list, creating a fun competitive atmosphere for song requests, while providing a powerful—yet subtle—revenue channel for the band. Utilizing the app will generate an overall increase in the amount of money bands make overnight while also providing a digital record of feedback from aspiring artists’ performances. The app not only helps bands, but it also provides value for people that attend concerts by allowing them to search their area for all the live music events that are happening.
The Proof of Concept program is targeted at early stage pre-revenue firms looking to validate a product or market.