Yes, those things they call incubators are back, and this time digital agencies think they have a chance: Denuo from Publicis is one high-profile example. Another is design agency Adaptive Path teaming with VC firm Sierra Ventures to takes stakes and help the startups.
Now UK-based digital media sales house Utarget has launched an Internet incubator firm designed to assist start-ups with financial backing alongside online and offline advice. Internet entrepreneur Phil Cooper, founder and CEO of the firm, has set up Utarget Ventures. The firm has already secured its first client, Ultimatehome.co.uk.
The firm will advise and help start-ups in web architecture, design, marketing, and ad-sales in return for a stake in the company. The average investment would be in the half-million dollars range, according to this story…Utarget has an annual turnover of about $4.5 million. The financing for these fundings for now is mainly coming from the sale of 50Connect, a lifestyle portal for people over 45, which Utarget sold to an insurance company recently.
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