MUMBAI: GroupM has inked a new R&D partnership with the Singapore Economic Development Board (EDB), the lead government agency for planning and executing strategies to enhance Singapore's position as a global business center.
The three-year plan will support the set-up of a global R&D team in the Singapore market with a focus on developing new data science technologies that extend GroupM’s leading position in media investment management.
Under the terms of the development plan, GroupM will increase the number of PhDs in data sciences and analytics it hires for its Singapore operations, as well as expand its relationship with the country’s advanced science and technology institutions, through a strategic investment by EDB. The collaboration will enhance Singapore’s position in attracting the world’s most talented data scientists through new jobs in the Singapore market. Against a backdrop of fierce global competition for these experts, the partnership will further support Singapore as a key destination for data science and analytics professionals, providing skilled candidates with industry-leading opportunities to develop their careers as part of GroupM.
“The rapid worldwide growth of data-driven advertising has driven a corresponding, and massive, demand for PhD level data scientists to design and implement these next generation media technologies. With today’s partnership, GroupM gains a valuable advantage in attracting the most astute and promising minds to our Singapore R&D operations while advancing Singapore as a world center for the development of the industry’s most advanced media products,” said GroupM Analytics chief data officer and CEO Harvey Goldhersz.
The agreement is unique in the media industry, recognizing GroupM’s preeminence in the data and analytics areas and providing an increased number of data-science jobs in Singapore outside of the academic realm. GroupM’s R&D operations will leverage Singapore’s infrastructure and talent pool to provide professionals with favorable conditions in which to develop their careers.
The Singapore Economic Development Board (EDB) has been working closely with the industry to build up a comprehensive ecosystem as part of its vision for Singapore to become a regional digital marketing hub.
Singapore Economic Development Board assistant managing director Kelvin Wong added, “We welcome the establishment of GroupM R&D in Singapore, and the transformative effect it will have on how brandowners plan and buy media. It will also create opportunities for analytics talent to work in the exciting and fast-moving space of media investment management, and contribute to EDB's goal of developing 2,500 analytics professionals in Singapore by 2017.”
