London Advertising global competition offers US$155,000 for new digital agency startup

Michael Moszynski, founder and CEO of London Advertising, announced the new initiative last week at an event for the New Entrepreneurs Foundation at 10 Downing Street, hosted by David Cameron, the UK Prime Minister. He said that the aim was to find the best digital talent reflecting the Government’s growth agenda and focus on the creative sector.

The funding is provided under the Government’s new Seed EIS scheme, which allows up to 50 per cent tax relief for high-rate payers.  

"There is a role for government to back entrepreneurship, and this is why we have changed the tax system, to incentivise investment into entrepreneurs, to make it easier to start up and grow a business," Cameron said. "But there is also a role for business to play which is why this competition is great news for entrepreneurs in Britain and I hope it uncovers some great new digital talent."

Samsung, Warner Brothers and Bupa are supporting the initiative by agreeing to provide a range of live briefs for the new agency and to participate in the judging panel.

Moszynski said that for these reasons there has never been a better time to start your own agency, "we don’t mind where in the world the talent comes from—it could be a Singapore digital agency or a Hong Kong social media agency wanting to launch in the UK."

Interested parties can look up details at agency website.