The organisation has been winding down operations for over a year, according to sources at Invest NI, the project's original sponsor.

The Government body will not guarantee funds for a successor to NIMIC, which has spent an eight-year history promoting the interests of the Northern Ireland music industry.

An Invest NI spokesperson says, "Invest NI has had a very productive relationship with the principals and NIMIC has made a considerable impact on the music sector,"

"All projects undertaken by NIMIC ...