Politico founder and publisher Robert Albritton sent the following to the staff on Monday:
POLITICOs,
A little less than a year ago, Aaron Kissel asked me if we could have lunch to discuss a new idea. Simmi Bhuller joined us, and they both began to explain a vision for something new, yet completely compatible with what we have built together over the past years at POLITICO. To be exceptionally direct, it took all of ten minutes to see the inherent logic behind their idea, and probably even less time to become an enthusiastic supporter. As POLITICO kicks off a new 2020 and surges into a new decade, I’m thrilled to announce the launch of this exciting new division and product called AgencyIQ.
There is a clear market need for more timely, incisive, and accessible coverage of the regulatory environment. Changes in regulatory requirements, stakeholders, policies, and processes are adding complexity to companies’ business planning at an increasing rate. This uncertainty is compounded by the proliferation of innovative technologies, many of which are inadequately addressed by existing regulatory frameworks. In observing federal regulatory agencies’ and industry’s shared efforts to shape our future business environment, POLITICO identified a need for improved translation and transparency between these important stakeholders. AgencyIQ fills this void.
AgencyIQ will improve the flow of information between regulatory bodies and industry. Our new business line, staffed by experienced regulatory experts, will provide cogent, timely, and deeply researched analysis of regulatory decisions and their impact on companies. These experts’ work will be complemented by more comprehensive reporting on regulatory agencies provided by the POLITICO newsroom and by the work of technologists who’ve built a platform that allows firms to track regulatory change in real-time.
AgencyIQ will launch with a focus on the FDA, one of the most consequential rulemaking bodies in the world. AgencyIQ | FDA will offer coverage of the centers within the agency responsible for the regulation of the pharmaceutical, biotechnology, medical device, and in vitro diagnostic (IVD) industries. We have built an impressive team to deliver our vision for exceptional regulatory coverage. The 20-person-plus team responsible for AgencyIQ | FDA includes experienced regulatory policy analysts, technologists, product experts, and reporters.
Significant research underpins this new launch. Across 2019, our product team engaged close to 100 regulatory affairs executives in product and market research discussions, an effort led by Emma Kinnucan and Simmi Bhuller. This fall, we convened more than a dozen leading regulatory affairs influencers to validate the scope and features of our planned business line and to make sure we addressed genuine market needs. Their feedback was instrumental in the design of AgencyIQ. Each feature we have put into the product offering was a direct result of the need expressed by the market. Emma and Simmi will continue to lead the product and commercial teams respectively, along with Alexander Gaffney, who will lead the research and insights team. The FDA reporters will sit in the newsroom, part of the POLITICO healthcare team under the leadership of Joanne Kenen and reporting ultimately up to Matt Kaminski.
We expect the AgencyIQ business line to expand significantly—our goal is to establish an arm of POLITICO that can deeply cover multiple agencies with a distinct value proposition that combines our core strength of news and reporting with new capabilities in policy research and data-driven agency monitoring.
I’ve always believed great media companies are made from a combination of key ingredients: a strong focus on communities and issues that bind them; a team of highly creative and capable leaders who share a common vision and values; and a durable business model that eventually relies on multiple revenue streams to sustain and grow its reach and impact.
Thirteen years after POLITICO’s initial launch, we just closed our most successful year yet, from an editorial, business, people and audience perspective. We now illuminate how millions understand power centers across the United States, and in Canada and Europe. I do not need to tell you how essential POLITICO’s voice is during these turbulent times. I’m confident that 2020 will be yet another landmark year, with best-in-class coverage of those power centers, continued investment in all aspects of our ongoing editorial products, and the introduction of new business lines such as AgencyIQ.
Thank you for reading this — and for proving every day that our high-impact and sustainable model of journalism not only works but thrives.
-Robert
