Iris creates global innovation unit

Creative network Iris has launched an innovations & ventures division. Called The Nursery, it will focus on the development of new products and services.The dedicated global unit will tap into the network's creative teams to bring more start-up style ideas to big brands and create new business concepts.The Nursery will also actively invest US$410,000 (£250,000) in startup and innovative businesses, through its own investment fund and in collaboration with VC partners, to support “new ways of thinking”.The APAC Nursery team is already collaborating on a number of major projects for Diageo, Heineken/APB and the City of Sydney.“As a part of our ventures work, we’re currently finalising our investment in a number of technology startups and planning the next round of investments. If we’re going to be credible in this space, I think it’s important for us to be investing significantly in innovation, too,”co-founder of the Nursery, Dan Thwaites said.With teams already in place across the network, iris has appointed John Grant to lead the new division.Grant was appointed in December last year following working with the network on consultancy basis since 2004.