Essence has established its first innovation, research and development hub in Asia Pacific toĀ incubate industry-leading marketing technology products and offerĀ talent development programmes.
NamedĀ Essence Global Ventures (EGV), the hub will collaborate withĀ the Economic Development Board (EDB) to enhance Singaporeās position as a global centre for business, innovation and talent. EGV will develop 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 Essenceās offices worldwide.
Through the move, the global data and measurement-driven media agency under GroupM seeks to advance its product proposition to be the global market leader in predictive, intuitive and growth-driven business solutions for its clients.
SVP and managing director Kunal Guha, who oversees Essence’s Singapore office as well as the agency’s product offering in APAC, said, āWe 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.ā
An executive council, comprising senior global and regional leaders from Essence, will oversee the strategic direction and delivery of EGVās research and development.
Additionally,Ā EGVās strategic initiatives will include talent development programmes to grow and support Singaporeās 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.
Dawn Lim, deputy director, commercial and professional services at EDB said that the establishment of Essenceās first global innovation hub in Asia Pacific based out of Singapore reflects confidence in Singaporeās ecosystem of innovation and talent as a driving engine for product development and innovation. “The hub will create exciting job opportunities and develop Singaporeās capability in high-growth areas such as data science and user experience, which are key innovation drivers today for the marketing and advertising sector,ā he added.
Essence currently has nine offices across the APAC and plans toĀ continues its rapid growth in Singapore and in the region.