I sold my idea and all I got was this crappy t-shirt…and a million bucks.
At Cannes on Friday, MDC’s Miles Nadal announced he’d give a million dollars of seed money to any entrepreneur with a good marketing communications idea in exchange for a 51% stake in the resulting company. The sole criteria: “you do brilliant work, you want to make brands famous and you want to drive results for clients,” according to Nadal.
In addition to acquiring famous ad shop Crispin, Porter & Bogusky, MDC Partners has been extremely active in picking up PR firms. The Canadian holding company followed an investment in Attention with the acquisitions of Sloane & Company and Allison & Partners in the last 12 months.