Kinetic, a WPP out-of-home agency, has launched a startup incubator, KineticX, focused on location advertising technologies for out-of-home advertising.
Out of home is in the midst of a digital transformation, and Kinetic wants to stay ahead of the curve by investing in startups to help influence the future of data-driven OOH.
The agency has launched a startup incubator KinectiX, that aims to offer brands innovative solutions and to provide early-stage business access to Kinetic’s client base.
The UK-based programme will work with early to mid-stage startups and will focus primarily on those with relevance to contextual marketing, digital screen technology, deep learning, AI, hyper-local technology, projections and holograms, and the Internet of Things.
The division will support start-ups by building revenue-generating relationships with established brands.
“We want to make sure in five years time we can place the influence we have had,” said Roshan Singh, who is heading up the KineticX division.
According to Singh, this year will see the proliferation of digital screens to OOH, while static screens fade away. With that will come a “much more data-focused and data-led approach” to OOH, he said, paving the way for new technology like programmatic, artificial intelligence, geolocation, projections and holograms and the internet of things to enter the oldest advertising medium.
Launch partners include Lightvert, a large-scale digital display provider; Meshh, a hyper-local and contextualised mobile specialist; and Tamoco, which aims to build a proximity network that will connect mobile audiences to the Internet of Things.
"This significant move represents Kinetic’s commitment to actively leading innovation in our sector," said Kinetic chief executive Stuart Taylor. "Through our partnerships with some of the most cutting-edge early-stage businesses we will work to shape the future of our industry for the benefit of our clients."
The OOH agency will provide the startups with guidance and support "to help bring their product to market in line with the expectations of clients", as well as sales and marketing support and access to Kinetic’s client base.
"We want to develop genuine revenue generating opportunities for our partners while allowing them the opportunity to be laser focused on developing their products," Singh opines.
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Source: The Drum