Some of the worlds biggest consumer brands and their marketing agencies including Heinz, Ab-Inbev who own Stella Artois, Becks and Budweiser, BMW, Panasonic, and Ideal Standard are combining their marketing muscle, and committing part of their budgets, behind a new initiative called ‘The Bakery’ in the heart of Tech City.
The Bakery, supported by The Institute of Practitioners in Advertising (IPA), The Tech City Investment Organisation (TCIO) and the UK Trade & Investment is the world's first technology accelerator designed specifically for the advertising and marketing world that aims to become a true innovation hub in Tech City.
Companies with innovative technology, can apply now to take part in an ‘accelerated’ competition. The winner will have the opportunity to work with a multinational brand who will cover the cost to trial their technology solution in the ‘real world.’ To enter or for more information, please visit www.thebakerylondon.com
The new initiative places the UK right at the forefront of the valuable international ad industry. It aims to bring the world of advertising and marketing currently centred around Soho and West London, into the growing development cluster in East London in the hope of creating a virtual bridge.
Agencies working with the brands in The Bakery include Vizeum, part of the Aegis Group, Havas Worldwide, Karmarama, KittCattNohr Digitas and MBA; some of the most forward thinking independent and group owned creative agencies and digital media in the UK ad scene.
Planned events for The Bakery include ‘hack days’ for marketing technologies, presentations on leading advertising techniques and new technologies, and exhibitions of innovation in digital and creative media.
Says Janet Hull, Director of Marketing and Reputation Management, IPA: “Member agencies are well placed to help tech start-ups hone their market proposition, and provide scalable market opportunities through their network of client companies. This innovation hub will provide proof-positive of the can-do attitude and pioneering spirit of the UK advertising creative and digital media sector."
Says Andrew Humphries, Co-founder, The Bakery: "There are two things that are vital to the growth of innovative technology companies; access to finance and access to markets and revenue. Many accelerator programs exist for the former. The Bakery is the first dedicated program that offers the world's best advertising and marketing tech developers direct access to and mentoring from top brands and agencies so they can get their first big clients quickly. It's an evolution that benefits everyone, the brands and their agencies, the innovators and their investors, and ultimately all of us as consumers."About The Bakery
The Bakery is a vertical accelerator for the marketing and communications industry and differentiates itself from these other programmes through:
• focussing on a specific vertical-market sector
• attracting later stage companies
• offering commercial contracts instead of investment
• giving ITCs unprecedented access to the world’s leading brands
• giving ITCs Companies unprecedented access to the creative talent of the world’s leading advertising agencies
Brands such as P&G and AB In-Bev have started Innovation Labs in Silicon Valley in order that they can access leading technology companies. These brands are now keen to come to London’s Tech City and emulate the success of these programmes, and would like to do this as part of The Bakery.