A trio of musical entrepreneurs are crossing the Atlantic Ocean and setting up shop in Detroit, thanks in part to the encouragement and investment from Michigan's largest venture capital firm.
Beringea is investing $3 million in the Detroit Institute of Music Education, a music college for contemporary musicians set to be launched this fall. Sarah Clayman, Bruce Dickinson and Kevin Nixon launched
Brighton Institute of Modern Music in Brighton, England, in 2001. They sold the business in 2010 and were recruited by executives at Beringea to open a U.S. version in Detroit.
"It was a really easy sell," says Charlie Rothstein, founder & senior managing director of
Beringea. "They were getting there on their own. Everything that is happening in Detroit is saying loudly to open up here."
Detroit Institute of Music Education, commonly known as DIME, will open up in 15,000 square feet of one of
Bedrock Real Estate Services' buildings in downtown Detroit. The company will offer lessons in playing instruments and musical entrepreneurship. Initial projections call for 150 students in the first class, with a goal of up to 1,000 students in future classes. The business is already looking to hire up to 30 instructors and support staff for the venture.
Detroit Institute of Music Education picked Detroit over other major markets like New York, Los Angeles and Chicago because of the Motor City's impressive musical culture and the warm welcome from regional business leaders like Rothstein and Quicken Loans Chairman Dan Gilbert.
Source: Charlie Rothstein, founder & senior managing director of Beringea
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
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