What does PIE have to do with advertising you ask? Well, quite a bit according to a recently launched experiment by the well respected global advertising agency Wieden and Kennedy.
PIE (Portland Initiative Experiment) refers to a project which is just as much ambitious as it is innovative and aims to partner start-ups with big brands and Wieden clients to 'curate technology and innovation.'
In essence, they are supplying a cauldron in which they can throw in and brew all sorts of good stuff such as start-up creativity, passion along with a healthy dose of real world needs of big brands. All of which they feel could lead to a very interesting concoction which capitalizes on the shared and mutual learning and experiences from brands and the start-ups themselves.
The initiative has already gathered formal support and backing from Coca Cola, Nike and Target.
It works by W & K supplying office space to promising start-ups, up to $18,000 USD and and access to key investors and developers. Brands are to supply mentors which will work with the start-ups as per supplying information and insight along with guidance relating to the exploration of potential brand-alignments and business opportunities.
All in all, as stated it is an ambitious project but one that certainly offers huge potential for all parties involved. In particular, the lessons it offers to advertising start-ups are invaluable and could certainly spell the difference from simply creating a mildly successful business to one that is able to really penetrate and build its models to truly suit what the big fish out there are all after.
Hats off to W & K and I would love to see this experiment catch on in other parts of the world.