New York-based advertising powerhouse Grey Group has launched a new, tech-focused unit aimed at engaging directly with the cutting-edge material required by its present and future clients. Called Grey Adventures, the unit will work to create new products, services, and business models for the agency. Partnering with both innovative start-ups and established tech companies alike, the practice combines Grey’s creative capital with its deep, material understanding of the tech space. The team will be led by Evan Kraut, Grey’s managing director of Grey Adventures, and Darren Moran, the agency’s head of innovation.
Grey Adventures and its intellectual property platform will serve as a complement to the other divisions in the Brand Experience Group, including Activation and PR; Shopper Marketing; and Connected Experiences, a new practice formed by Grey’s recent acquisition of ArcTouch, a mobile development company.
The primary focus for Grey Adventures centers on building intellectual property for both the agency and its clients, as well as working with early-stage companies in non-traditional models such as strategic partnerships, revenue shares, and joint ventures. But Grey is also investing in intellectual property for Grey Group, which Grey will fund and then continue to grow and manage. If successful, it may take on further investment from outside the company or spin it out into an entirely new endeavor.
With its push for strategic partnerships, be sure to keep an eye on the Grey Group for more innovations – and adventures! – down the road.