Innovation is not an event to be had, but a process and cultural shift that must be engrained in their companies
The UK is in an amazing position right now in the global market. People cannot wait to come here because of how much support there is for smaller companies to start, scale and grow.
Talent wants to be a part of some of the most innovative teams because they are open to trying new things and have a young, agile mindset. Talented entrepreneurs are picking up their lives from around the world to set up as a UK Limited company. And the industry is getting behind them.
Test, try and grow
London has long been the creative capital of the world, we have highly skilled creative workers, and we have also been quick to adopt new technologies – we lead the world in digital media spend relative to other forms of advertising. These brands and agencies recognise that the most disruptive technologies and business models are being built outside their organisations.
They are popping up much fast than can be built in house, so the companies must adapt. Innovation is on the main agenda – every major brand and agency has at least one person dedicated to innovation. Others have set up entire departments or ‘labs’ to play with new technologies and new ways of working.
The previously tried model is undergoing an overhaul, and new ways of working are becoming commonplace. And we should be able to lead the world with MadTech startups.
The Ecosystem is ripe
The best creatives and data scientists and flocking to Britain to begin their careers
Talent and money are flowing into the UK right now. The best creatives and data scientists and flocking to Britain to begin their careers. Institutional bodies are in place to make sure the transition is as easy as possible.
Tech City UK helps small businesses right from the beginning by acting as a body of resources to be drawn upon when necessary, and established industries such as the IPA and BIMA are supported by the likes of TLA – Tech London Advocates.
Private UK investors are ready to invest in the best of the best, and US investors are looking here to get a slice of the newest technologies. And marketing and ad tech is an industry to watch. Unruly is a home-grown startup turned global business, Skimlinks and Somo have all attracted big investment, and 6 of the fastest growing UK digital media companies were MadTech last year. We have role models for young entrepreneurs to look up to in MadTech.
Brands & agencies are becoming responsive organisations
Senior management understands the importance of collaboration, of being able to say that they don’t know what they don’t know
They’re learning how to work with start-ups, not just use them. Senior management understands the importance of collaboration, of being able to say that they don’t know what they don’t know and outsource it to smaller, more agile companies – and give them credit for it.
These brands and agencies have the network to take these smaller companies global, giving them access to a larger market and network of mentors and investors.
They also are beginning to understand that innovation is not an event to be had, but a process and cultural shift that must be engrained in their companies.
They are prepared for what the future holds and have an idea of what it will look like. And they are ready for the MadTech revolution – helping Britain lead the way and setting an example for the global market.
Find out more about the Marketing New Thjnking Awards. Deadline extended to 24 July.