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Algoriffix receives funding from Swedish innovation agency Vinnova

06-24-2020 09:49 AM CET | IT, New Media & Software

Press release from: Algoriffix AB

Algoriffix receives funding from Swedish innovation agency

Stockholm, June 23, 2020

The Stockholm-based startup Algoriffix will use the SEK 300,000 funding to further develop its artificial-intelligence-based musical creativity project “Jammin” and sharpen its business model.

Only newly started companies with an innovative and international competitive business concept willing to grow in Sweden were eligible for Vinnova’s funding. All applications have been reviewed by at least three specially appointed assessors. Their decision was based on a weighting of the four main criteria, namely: relevance, potential, team, and implementation. The selected companies receive funding to develop new solutions that can contribute to sustainable development and increased competitiveness of the Swedish economy.

The funding will be used by Algoriffix to build a minimum viable product (MVP). Algoriffix wants to help unlock the creative potential of aspiring musicians, songwriters, and music producers with the help of computational intelligence. But the company’s initial target group includes anyone who uses the guitar as his/her working tool.

“We have spoken to musicians and music professionals and all of them were incredibly positive and excited about the idea. It was an obvious fact that our target audience is constantly seeking inspiration for their creative output. One of the most important sources of inspiration is interaction with other musicians,” says Dr. Stanislaw Gorlow, Founder CEO/CTO of Algoriffix.

However, it can be difficult or even frustrating to find like-minded musicians or jam buddies. So, there definitely is a need to overcome periods of creative deadlock and frustration with a sophisticated yet easy-to-use solution. This is exactly and literally where Jammin comes into play. Jammin is meant to enhance the act of human creation, such as improvisation or songwriting, through computational creativity.

“This grant gives young companies with high-risk projects an opportunity to verify and validate their business to increase the chances of reaching customers, partners or investors,” says Emelie Falk, responsible for the call for proposal at Vinnova.

Contact Vinnova:
Emelie Falk
Mäster Samuelsgatan 56
10158 Stockholm
+46 8 473 31 77
emelie.falk@vinnova.se
www.vinnova.se

Contact Algoriffix:
Dr. Stanislaw Gorlow
Fredriksdalsgatan 12
12032 Stockholm
+46 70 072 97 17
info@algoriffix.com
www.algoriffix.com

About

Vinnova is Sweden’s innovation agency. We help to build Sweden's innovation capacity, contributing to sustainable growth. Our vision is that Sweden is an innovative force in a sustainable world. www.vinnova.se

Algoriffix is a startup company based in Stockholm that set itself a goal to boost the creative potential of musicians, songwriters, and music producers with the help of machine learning (ML) and artificial intelligence (AI). www.algoriffix.com

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