Project Iliad, TMW’s internal business incubator programme, has revealed its first investment into two new business ideas, including a low-cost iBeacon technology to help those who care for people with dementia and Alzheimer’s.
The programme has been designed by the agency to cultivate and invest in industry-disrupting ideas. The winning idea, from TMW creative production assistant Natalie Price (pictured, holding cheque) allows carers to use iBeacon technology to help their dementia and Alzheimer’s patients and prevent them from getting lost. She receives an investment of £14,000.
The runner-up idea is an interactive story-time app which allows children and parents to become the characters in the story. This idea was conceived by TMW associate creative director Preston Rutt (far left), who receives an investment of £6,000.
TMW launched Project Iliad this autumn and invited all the employees of the agency to submit their ideas that shape the future. It took 10 months of planning, a fund (prize share) of £20,000, 30 entries in total, 6 finalists and 7 weeks of preparation to reach the two final award-winning ideas.
In a Dragon’s Den-style, the finals of Project Iliad took place on last month to showcase the entrepreneurs who pitched their ideas to a panel of judges. The judges included group chief executive Barrie Brien; Microsoft Ventures, Start-up Lead, Diane Perlman; TMW joint chief executive Chris Freeland; chief creative officer Gareth James; director of innovation, Darren Kay; and chief technical officer Guillaume Baut-Menard.
TMW planning director Adam Knight said: “We strongly believe that innovation and creativity are both closely linked and complementary. It’s this firmly held belief that drove us to launch Project Iliad. The passion with which our agency talent adopted the project, and the diverse and change-making ideas they generated, demonstrates that the entrepreneurial culture of adland is truly thriving. Our business incubator programme allows us to nurture and invest in that culture, unlocking new opportunities and revenue streams in the process.”
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