Speaking of doing business in China, we received this update last week from Joe Vangieri, Chief Executive Officer of DigiTrax Entertainment Inc., about his start-up’s participation in the InnoSTARS activities in China. As readers may recall, DigiTrax and EDP BioTech were winners in separate tracks of the latest InnoSTARS competition that provided opportunities to pitch late in 2018 in China.
Marcus Matusiak, the South Knoxville company’s Chief Technology Officer, wraps-up his presentations on Music Fact Reports, the DigiTrax artificial intelligence platform with four this week starting today. The final event is a big one – the China Music Instrument Association (CMIA) show in Shanghai. More than 100,000 people from 81 countries attended last year’s “Music China,” as the event is known.
CMIA co-produces the four-day show that ends on Saturday, and Matusiak was invited to speak as an international expert in the field of artificial intelligence in the music industry. He will be joined by Chinese business person who will talk about artificial intelligence and how the technology can be used in China.
Vangieri reports that the Chinese presentations as part of winning InnoSTARS have produced results for the company. “DigiTrax Entertainment has been offered a term sheet by the Government of Qingdao for $10 million RBM (the official currency of China) or $1.5 million USD, plus two years free studio rent, to open-up artificial intelligence music studios in the City of Qingdao,” he says. “It’s amazing – the Chinese music market loves AI and American hip-hop.”