Snapchat parent Snap Inc., has announced a strategic partnership with IPG advertising agency R/GA’s tech studio.
The R/GA Marketing Tech Venture Studio is a programme that focuses on advancing the future of mobile advertising. As such it provides guidance for startups and the marketing tech industry as part of a five-month programme.
The studio is currently looking for applications from startups which leverage technology to improve mobile advertising, such as video, machine learning, ad delivery, data analytics, AI and optimization.
Imran Khan, Snap Inc. Chief Strategy Officer, explains:
“We believe that mobile engagement has given rise to some of the best and most unique advertising opportunities. We are excited to work with R/GA and IPG to support innovative companies that help marketers provide creative and effective advertising experiences.”
10 startups will be selected and gain access to Snap Inc, R/GA and IPG network teams to help guide their businesses and seek out new opportunities. Sponsors of the programme already include Intel, IBM Watson and American Airlines.
In addition, each startup enrolled in the programme will get the change to collaborate with senior product and strategy leaders at Snap Inc. and showcase its business to brand leaders at the Cannes Lions ad festival in June 2017.
Stephen Plumlee, R/GA Global Chief Operating Officer and Managing Partner of R/GA Ventures, adds:
“The strategic value that Snap Inc. brings to the program will provide a crucial differentiation for startups developing the next wave of innovation in marketing technology and mobile video. We look forward to working with both Snap and IPG to provide both critical momentum and enormous network effect for the companies chosen to participate.”
For select startups, R/GA will offer investment of up to $120,000 in exchange for up to 6% of equity. Snap will likely be a co-investor.
The programme is also a good opportunity for Snap Inc. to see which types of technologies are out there.