Cowling, one of the founders of Taylor Nelson, died in March 2020.

The not-for-profit Tony Cowling Foundation aims to recognise the contribution Cowling made to the market research industry. It will work with partners to encourage education and research in areas relevant to the sector.

The foundation has been launched by a group of people who worked with Cowling at TNS, along with his son, Didier Cowling.

It has partnered with the Cambridge Judge Business School, part of Cambridge University, to help fund PhD students and their research related to the industry, and is also working with Esomar to fund training places for researchers globally.

It is also working with both organisations to establish international standards for developing technologies such as artificial intelligence and their application for market research.

The foundation is launching a fundraising exercise to help fund its projects, with a target of £250,000.

Mike Kirkham, former chief executive of TNS, said: "I am proud to be associated with this project to create an ongoing memorial for Tony. For me and for many others he was not just a colleague whom we admired; he was also a friend who always had time to listen. I would encourage anyone who knew him to participate in helping to honour his memory."