In a world where technology and innovation intertwine with creativity and art, there are few who manage to build a bridge between these worlds with as much success as Nermina Mumic. As CEO and founder of Legitary, an award-winning technology startup focused on monetizing music rights, Nermina is leading a revolution in how publishers, producers and artists profit from streaming and intellectual rights. Its patented artificial intelligence software is not only a technological marvel, but also a key player in the fight for transparency and fairness in the music industry.
Her career is a mosaic of impressive achievements. With a background in data science, she holds a master’s degree in Technical Mathematics from the Technical University of Vienna. A doctoral dissertation in statistics at the same university led to the development and patenting of the algorithm that is the heart of Legitary. Her work and innovation did not go unnoticed; Nermina has been listed as one of Forbes 30 under 30 and a Global Shaper at the World Economic Forum.
In this exclusive interview for Forbes Bosnia and Herzegovina (BiH), Nermina Mumic shares her journey from the academic sphere to the top of technological entrepreneurship, revealing how her innovative approach changed the game in the music industry and what awaits us in the future of digital music monetization.
Escape from war
Nermina Mumic, whose career is marked by innovation and leadership, has her roots in Zvornik, the small town where she was born just before the outbreak of war. Her family story is a story of survival and new beginnings. Because of the war, she fled with her family to Austria in 1992, where she still lives today. “My family is very important to me, they keep my feet grounded in this crazy pace of life,” she says with a sense of gratitude and connection.
“My family fled the war in 1992, moving to Lower Austria, where I grew up.” Nermina did not immediately see her passion for mathematics, which she discovered in her school days, as something she could pursue permanently.
She originally enrolled in economics, but then spontaneously decides for a more challenging path just a week before the start of the semester, changing her studies to Technical Mathematics at the Technical University of Vienna.
“I have always been fascinated by mathematics as a universal language that can be applied in any field, from natural sciences to engineering to business,” she explains. For her, mathematics is not just an academic discipline, but a way of thinking that structures problems and finds their solutions, thus becoming a valuable life skill.
When it comes to role models, she points out that the challenge is to single out just one person. “I believe everyone has something special to offer and learn, if you look hard enough,” she explains. She appreciates the inspiration she finds in different people – whether it’s their success in the business world, academia, personal life, qualities she admires, or the way they’ve dealt with challenges in their lives. This philosophy is also reflected in her approach to employment.
”I require every person on my team to have at least one skill set in which they are significantly better than me.”
From mathematical formulas to musical innovations
With a passion for coffee and solving problems, Mumic did not enter the music industry by the usual path for singers or producers, but as a researcher. “My love for coffee and constant desire to solve problems led me to an unusual path in the music industry,” says Nermina. Her academic career begins at the Technical University of Vienna, where she studied Technical Mathematics, and continues with work in a global consulting firm.
However, the turning point in her career comes when she leaves her industrial job to start a PhD in statistics, focused on fraud detection in music streaming. ”The first thesis of my PhD eventually turned into a university spin-off, Legitary.”
At Legitary, Nermina and her team are developing and patenting a new machine learning method for detecting anomalies in streaming music. Their work is not only scientifically proven, but also tested with an audit firm from Los Angeles, after which they won the world’s leading music startup competition, Midemlab. “That was the moment when I jumped into the unknown and decided to move from research to entrepreneurship, realizing that it was a unique opportunity.”, N1 writes.
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