Crash Test Media will start trading at the beginning of October, four months after Soutar's sudden departure from IPC.
The agency will work alongside media owners - initially in the magazine market - from inception through research and insight all the way to product launch.
Soutar said: "What's very important to someone about to spend millions of pounds on a magazine launch is to reduce the risk.
"It's as much a science as it is an art. I can bring in speed, vigour and certainty to the development."
Soutar has a formidable reputation in the publishing world. During his time at IPC, he launched the men's weekly magazine Nuts and the celebrity title Pick Me Up, and redeveloped Woman.
He declined to comment on who his first clients would be.He added that the consultancy would consist of only a handful of people for the first few months.
He said: "I'm confident that there will be one or two people I can start working with immediately."