Ogilvy has formed a new innovation arm, OgilvyVentures, with a view to look beyond traditional advertising products and grow tech-based ventures in Australia and abroad.
In order to boost scale, OgvilyVentures has partnered with global information technology, consulting and business process services company Wipro, to build and launch several products. At this stage it is starting with the energy, insurance and banking sectors.
Ogilvy Australia CEO David Fox said the partnership with Wipro is to ensure it can start the business at scale.
“Both our clients and our own businesses are facing complex, fluid markets and are seeking additional ways of generating revenues,” Fox said.
“We want to open up new opportunities for success. So we've set up OgilvyVentures to take an idea, and use our teams to build and mould it into a profitable, global enterprise.”
OgilvyVentures will be headed up by Anthony Johnston. He said the aim is to grow it to a level where it is both contributing revenue and helping Ogilvy and Wipro clients navigate through disruption.
“This is the driver; to be able to open up products and markets for both Ogilvy and clients using technology as an anchor,” Johnston said.
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