He's the man behind 3 billion streams, a string of chart-topping artists, and Weatherspoon's newest brand of tequila.
When you ask Michael Adeks how he achieved all this by the age of 28, he gives some credit to his “steadfast” will to make things happen.
But the Manchester-raised entertainment mogul tasted success as a top talent manager for rappers before founding a talent agency, record label and global music publishing business, but no matter how powerful his vision or how great his talent was, Even if it's just an idea, a young company needs cash to survive.
The UK aims to become a leader in “deep tech”, an area of innovation that includes cutting-edge technologies such as artificial intelligence, quantum computing and blockchain. But the path from great idea to commercial success can be a rocky one, especially for Black entrepreneurs.
research from digital catapultWe work with government, industry and academia to grow businesses through the use of deep technology, but we found that only 0.2% of all UK investment goes into black-founded businesses.
Named one of Forbes magazine's 30 Under 30 people last year, Adex is an ambassador for Digital Catapult's Black Founders Program, which sponsors 10 companies on their commercial journey. and are trying to change this situation. Previously selected companies partnered with large corporations and attracted interest from angel investors.
This caps off a busy year of deal-making for Adex. Wetherspoons sells MODA, the tequila brand he founded, in more than 800 pubs, and cipes from Adex, the bottled water brand he co-founded with Aitch, are also available in Iceland. Adex has also teamed up with his entertainment agency NQ and British Columbia Records in a deal aimed at giving the label access to the north of England's hottest emerging music stars.
“Even if you have ambitions…if you want to get to a certain level, like I have done independently, you need the resources to grow,” Adeks says. “So the program is like this.” [Black Founders] It’s really important to help people understand how to raise money so they can articulate their vision. ”
The potential for deep technology to further the UK's success in the creative industries can be seen in the startups Digital Capital has selected for its Black Founders programme.
Companies are applying immersive technology to areas such as music production, gaming, storytelling, and education.
These include TwoShot, which uses voice detection technology to tackle copyright issues related to AI-generated music. Mismatch Studios creates digital clothing for virtual worlds, giving designers a sustainable way to prototype their designs. Immersely uses biometrics and AI to create “hyper-personalized” games.
Adex's own journey to success in the music industry – the NQ producer has worked with artists such as Central Cee, ArrDee, Tion Wayne, Bryson Tiller, Mist, Blanco and Anne-Marie – is a journey he has taken as a student. It started when it was.
“It was a natural thing,” he says. “I had a lot of connections and friends, and I had family in London, so every summer I would go there and make connections. From there, I started building relationships and hanging out with artists.
“In Manchester there were a lot of talented players around so I started wanting to use them because when I went to London I saw a lot of opportunities and in Manchester I saw a lack of that. Body.”
“It’s important to show what Black entrepreneurs can be a part of,” Addex added. “I never want anyone to feel like they have to limit themselves,” he says of the importance of Black founders.
“I’ve always been very strong-willed and never thought I couldn’t do something because of where I came from or what my background was or how I looked. But now, six or seven years later, I look on in even more disbelief as I look at what has been accomplished.”
Jessica Rushworth, Digital Catapult's chief policy and strategy officer, said the Black Founders Program is “at the heart of breaking down barriers for underrepresented entrepreneurs to scale.” He said that there was, and added: No doubt it will open up new opportunities to grow the UK's creative economy. ”
