Benjamin Li
Jul 10, 2012

London Advertising global competition offers US$155,000 for new digital agency startup

GLOBAL - London Advertising, with the support of the UK government, is launching a new initiative for young and hungry digital talent, offering US$155,000 (£100,000) in startup funds to set up a new global digital agency under its wings.

Oliver Pawle of London Advertising, introduces Moszynski to Cameron.
Oliver Pawle of London Advertising, introduces Moszynski to Cameron.

Michael Moszynski, founder and CEO of London Advertising, announced the new initiative last week at an event for the New Entrepreneurs Foundation at 10 Downing Street, hosted by David Cameron, the UK Prime Minister. He said that the aim was to find the best digital talent reflecting the Government’s growth agenda and focus on the creative sector.

The funding is provided under the Government’s new Seed EIS scheme, which allows up to 50 per cent tax relief for high-rate payers.  

"There is a role for government to back entrepreneurship, and this is why we have changed the tax system, to incentivise investment into entrepreneurs, to make it easier to start up and grow a business," Cameron said. "But there is also a role for business to play which is why this competition is great news for entrepreneurs in Britain and I hope it uncovers some great new digital talent."

Samsung, Warner Brothers and Bupa are supporting the initiative by agreeing to provide a range of live briefs for the new agency and to participate in the judging panel.

Moszynski said that for these reasons there has never been a better time to start your own agency, "we don’t mind where in the world the talent comes from—it could be a Singapore digital agency or a Hong Kong social media agency wanting to launch in the UK."

He added that clearly London Advertising is keen to use this competition to raise its own profile, "but we are putting our own personal money where our mouths are. We have taken risks to make that money and are risking it again—and if successful will bring more revenues more jobs in the advertising sector."
 
The deadline for entries is 31 July. Shortlisted applicants will be contacted on 7 August with a brief for a ‘Dragon’s Den’ style pitch to a judging panel on 7 September, and the results will be announced on 14 September.

The successful team will receive a designated space in the agency office and access to London Adveritisng’s global client list and new business opportunities, as well as mentoring support by the Board and Advisors of London Advertising, including Lord Davies, vice-chairman of Corsair Capital and non-executive director of Diageo, and Charles Fallon, managing partner at S.I. Partners, advisors to marketing services/tech companies.

London Advertising is spreading the word about this competition through Facebook, Linkedin, connections with entrepreneur organisations, universities such as the London Business School and London School of Economics, and through UK and international media.
 
London Advertising was set up by two of the founding partners of M&C Saatchi, Moszynski and Alan Jarvie, who have worked together for 20 years and previously set-up agencies in London, Hong Kong, New York and the Middle East.
 
“My creative partner, Alan Jarvie, and I took the plunge to set up our own business two weeks after the collapse of Lehman Brothers in 2008," Moszynski added. "Despite the downturn, we have gone on to win business on every continent and recently bought our own office building in the heart of Silicon Roundabout.
 
Since launching in Autumn 2008, the agency has secured international clients including Mandarin Oriental, Alliance Boots, Circle Health, Wedgwood and Fox International.
 
"We now want to encourage and support other new businesses by giving them the confidence to do similar. We are looking for people who can define what the future digital agency will look like." 

Interested parties can look up details at agency website.

Source:
Campaign Asia

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