Captivise Ltd, a leading company in the digital advertising sector, is thrilled to announce its success in securing a £46,500 grant from Innovate UK's prestigious Creative Catalyst 2023 competition. The highly coveted grant will fund their visionary project titled 'Acumen - Closing the Loop in Digital Advertising to Improve Transparency and Accountability', to be delivered by Lancaster-based novi.digital.
The Creative Catalyst Competition is a £30m programme of phased financial and non-financial activities to provide end-to-end innovation support for high-potential businesses in the creative sector. The competition provides £10m of £50,000 grants to fund innovation projects for small and micro creative companies. Thousands of companies entered the prestigious competition, and just 200 were awarded a share of the £10m funding.
'Acumen - Closing the Loop in Digital Advertising to Improve Transparency and Accountability' is the result of merging three proprietary tracking, optimisation and reporting technologies developed by novi.digital. Acumen aims to develop an end-to-end tracking platform for digital advertising campaigns that leverages machine learning and artificial intelligence to implement results-based tasks automatically.
The platform will also provide a user-friendly interface that offers real-time insights into campaign performance, maximising efficiency, and profitability. The project will be executed in stages to ensure seamless integration of the technologies and comprehensive testing of the platform. The project will also use the technology to evaluate its own campaigns by running the software on itself.
Aaron Crewe, managing director of novi.digital and project leader on Acumen, said: “We are delighted to receive this grant from Innovate UK and we are confident that our project will deliver a robust, comprehensive solution that helps businesses optimise their PPC (Pay Per Click) campaigns to map the click-to-sale journey and automate improvements to maximise their return on investment using AI and machine learning”. The project is expected to be completed by January 2024.
With innovation at the core of its design, Acumen is poised to deliver significant benefits to businesses in the digital advertising sector, such as increased transparency, accountability, and performance. Captivise Ltd and novi.digital look forward to a future where Acumen leads the charge in transforming the realm of digital advertising, setting new industry standards, and elevating businesses to unprecedented heights of success.
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