ITV brings second round of Studio 55 investments
April 20, 2022
ITV has launched a second round of Studio 55 ventures following the success of the first year.
A collaboration with strategy consultancy, Founders Intelligence, year two of Studio 55 Ventures will continue its aim of finding and growing innovative and future-facing media businesses.
Applications are now open for year two will open for teams of people, from both inside and outside ITV, to apply for the chance to create and scale a business within ITV, with an objective to appeal to younger audience demographics and have the potential to reach a multi million pound revenue within three to four years. The ideas should draw upon ITV’s existing assets within marketing, media and branding in order to gain market advantage.
Throughout the programme, 14 to 16 teams will receive £10,000 per team for joining the Studio, followed by an intense programme of training and mentoring from ITV Executives and Founders Intelligence, plus access to ITV’s network of strategic assets and contacts. A final six to eight will then have the opportunity to pitch for significant long-term investment to ITV CEO Dame Carolyn McCall, alongside top UK entrepreneurs Graham Cooke and Maria Raga, CEO of Depop.
ITV will ultimately select a small number of businesses in which to materially invest and scale, with members of the successful teams invited to join ITV full time.
McCall said: “It’s been so stimulating and inspiring watching our ambitious entrepreneurs go from strength to strength and as the future of media continues to evolve so rapidly I’m really excited to see what ideas are proposed next – this is an important part of our More Than TV strategy where digital acceleration is a priority.”
Founders Intelligence CEO Rob Chapman said: “This is an incredible opportunity for the media leaders of tomorrow to supercharge their careers. ITV’s vision will enable so many people to pursue their dream by smashing barriers that they face in starting a company – access to investment, mentorship, assets, data and financial security. We couldn’t be more excited to meet and support the next cohort of incredible talent who’ll become part of this.”