Essence, a global data and measurement-driven media agency which is part of GroupM, has announced the launch of Essence Global Ventures (EGV).
Based in Singapore, EGV is the first innovation, research and development hub for Essence in the Asia Pacific, with a vision to advance the agency’s product proposition to be the global market leader in predictive, intuitive and growth-driven business solutions for its clients. The hub is supported by the Singapore Economic Development Board (EDB).
EGV will develop and incubate industry-leading marketing technology products that use predictive data signals and automation to improve business performance, customer experience and brand governance. These solutions will be commercialised and deployed across 106 markets via Essence’s offices worldwide. An executive council, comprising senior global and regional leaders from Essence, will oversee the strategic direction and delivery of EGV’s research and development.
EGV’s strategic initiatives will include talent development programmes to grow and support Singapore’s next generation of industry leaders through professional development and training programmes in high-demand fields, including data science, advanced analytics, data and product engineering, creative technology, user experience design, and data integrity and privacy.
Essence, through EGV, is committed to working closely with EDB to enhance Singapore’s position as a global centre for business, innovation and talent, contributing to the expanding role Singapore plays in the world economy.
Andrew Shebbeare, Co-Founder and Chairman at Essence, said, “We firmly believe that a future-ready agency is a product-driven company, and are hugely excited to accelerate our research and development efforts in Singapore. Our partnership with EDB will help to advance our product development agenda in some of the areas of highest demand in the marketing services world.”
Kunal Guha, who oversees Essence’s Singapore office as well as the agency’s product offering in Asia Pacific, said, “Essence began its Asia Pacific journey in 2013 with a small foundational team in Singapore. Today, our Singapore office has grown into a knowledge centre of best practices for our nine offices across the region. With our strategic partnership with EDB, we are embarking on an exciting future in incubating and developing product propositions for the new era of marketing, with data, technology, protection and experience at the very core. Through EGV, we are thrilled to be building these future-forward solutions, made in Singapore and transplanted to the world.”
Dawn Lim, Deputy Director, Commercial and Professional Services at EDB, said, “The establishment of Essence’s first global innovation hub in Asia Pacific based out of Singapore reflects confidence in Singapore’s ecosystem of innovation and talent as a driving engine for product development and innovation. The hub will create exciting job opportunities and develop Singapore’s capability in high-growth areas such as data science and user experience, which are key innovation drivers today for the marketing and advertising sector.”
The launch of EGV marks an important milestone for Essence, as the agency continues its rapid growth in Singaporeand across the Asia Pacific region, while strengthening its skills and capabilities in line with its product vision and business development plans.