The Danish tech start-up company, PromoMii is going through an intensive three-month Bootcamp in Amsterdam, August 2019, where a network of business people and investors are ready with knowledge and capital. Since 2010, the network has invested 501 million Euro in 727 start-ups.
PromoMii’s software has already been beta-tested by Danish TV stations such as DR and TV2 as well as SVT, TV Puls, and Nordic Entertainment Group. At the same time, a Microsoft legend is entering the board.
PromoMii was founded in 2016 and is based in London. The company offers an AI-driven video editing platform, which is currently used by the TV, film, serial and computer game industry. PromoMii’s software automatically tags and labels the content of, for example, a movie or series and identifies key issues and actors. This makes it quick and easy to edit video content which production teams can use to create a strong and creative end-product. When marketing a movie or series, the software can further be used to create target group-specific trailers in less than a minute. Having the greatest possible relevance and appeal to the audience.
“There is a requirement to produce more and more content, but without the budgets rising correspondingly. Trailer editing is one of the most time consuming and costly aspects of film and series promotion because it is largely done manually. We eliminate this and at the same time, provide the opportunity to create much more relevant trailers with greater impact. In an entertainment market that is increasingly based on single purchases and streaming, we have a product that is becoming increasingly relevant to users every day, ” says Michael Moss, CEO, and founder of PromoMii.
In 2020, Netflix alone will spend 18 billion US Dollars on new productions, so the video editing market and the audience-oriented promotion of television programs, series and films are gigantic.
Although the AI software is not fully developed yet, the first contracts have already been signed with the Swedish SVT, while the beta edition is also being tested by several production companies and TV stations, including the Danish DR and TV2. DR has tested it with trailers for “Gintberg on the edge” and “Through Greenland – with Nikolaj Coster-Waldau” and TV2 testing with the “Klovn” series. The long term plan for PromoMii is to further offer their technology to private users.
“Starting in the professional market, it is on this basis that we must first and foremost apply ourselves and show our worth with an efficient and competitive solution. But soon, we also need a version that caters to the private market, because there are millions of videos shot every day, and they also need to be able to be edited quickly and cheaply”, Moss further explains.
Startupbootcamp Media Accelerator: The road to investment and growth
PromoMii will be under the wings of Startupbootcamp for three whole months, starting this August. Startupbootcamp is an investor community that invests in promising tech start-ups and helps them see their potential. They do this in two ways; partly through three-month boot camps, where the selected start-ups receive sparring and assistance from experienced experts in an intensive course; and partly through concrete investments in the companies so they have the necessary capital to grow.
It is such a process that PromoMii begins on August 19th in Amsterdam together with 10 other ambitious start-ups, including the Danish Wedio, who also came through the needle eye.
Startupbootcamp was founded in Copenhagen in 2010. To this date, they have helped 727 start-ups, of which 70% are still active, with a total investment of up to 501 million Euro.
“First and foremost, we are proud that a network with such a strong profile believes that we are worth investing in. Amsterdam becomes a catapult for our company. We get access to some very talented people that we can learn a lot from and who can lift us to a new level. Besides this, Startupbootcamp also gives direct access to several investors who have previously created great profits by investing in young tech companies,” says Michael Moss.
Microsoft legend on the board
Sometimes a coincidence becomes a crucial and decisive moment for a company’s future. Earlier in May this year, Michael Moss was out celebrating his birthday. He noticed another birthday party being celebrated at a nearby table and when he went over to congratulate, he was offered a drink. The person celebrated turned out to be Alan Boyd, who is the former Product Development Manager at Microsoft, having direct references to Bill Gates, with responsibility for the development of the first editions of Word, Excel, and Windows, amongst others.
Coincidence or not, this meeting has led to further discussions, and Alan Boyd is now entering the board at PromoMii. It is currently being clarified how Boyd can help open up the Asian market for PromoMii with a special focus on China, where he has been running a business for many years.