The Dundee Accelerator Programme was a 6-month venture building programme led by The Ventures Lab in partnership with the Dundee City Council, funded by the UK Shared Prosperity Fund. We supported 8 innovative impact-led ventures in Dundee with products, services, models, or technologies that had the potential to be game-changers in their sectors.
The Ventures Lab collaborated with Cognimusica, a Community Interest Company (CIC) dedicated to enhancing children's learning and cognitive development through music, to promote scalability of their operations and impact by providing:
• An impact business model clinic: Critically assessed the existing resources, impact business model activities, competence, and corresponding cost, to form the fundamental framework of impact business model canvas.
• Scale-up pathways: Determined the milestones which needs scale-up and the ‘how’ based on music education industry players analysis.
• Investor pitching and presentation advice: Advised on what the panel would like to actually know from Cognimusica.
Compared with traditional ventures, impact-led ventures are perceived as a higher risk option from an investor lens. In this Dundee Accelerator Showcase, Ms Justyna Skop, the CEO of Cognimusica, reflected on how they overcome this challenge during our Dundee Accelerator programme.
The Ventures Lab: Can you tell me more about your organisation?
Justyna: Cognimusica is an education company that integrates cognitive science into music teaching. We provide instrumental lessons for children and offer online training for music educators, with the goal of improving music learning through research-based methods.
The Ventures Lab: What are the pain points you found from your venturing journey?
Justyna: Some of the challenges have been securing funding and communicating the value of our unique approach to potential clients and partners. Balancing the research side of Cognimusica with the commercial aspects has been another learning curve.
The Ventures Lab: Which part do you find the most useful from the Dundee Accelerator Programme?
Justyna: The mentorship and business coaching have been incredibly valuable in shaping our strategy. Financial planning workshops have helped us refine our budgeting and pricing models. Networking with other entrepreneurs has provided support and collaboration opportunities, and the pitching guidance has improved our ability to secure funding.
The Ventures Lab: What is your next step and outlook?
Justyna: Our next steps include launching our online training for music educators, expanding our instrumental teaching services, and applying for Scottish Edge and the Converge Challenge to secure further funding. We also plan to conduct and publish research to strengthen Cognimusica’s approach and form strategic partnerships with institutions in music education and cognitive science.
For more information about The Ventures Lab and how we support purpose-led enterprises that have the potential to make a difference in multiple locations, either here in Scotland or globally, visit The Ventures Lab.
