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Every day you hear about new startups and their different stages of funding, seeding, and development. What you don’t hear about is how many of these startups after all the backing, support, and financing fall into obscurity.
According to Forbes, nine out of ten startups will fail which means it is likely safe to say that no run of the mill venture capital firm has a 100% perfect record. This is a problem that one Montreal company is looking to solve by breaking the traditional venture capital template.
Launched in 2007, Momentum Ventures is proud to say they do have a perfect record. With a diverse background that includes streaming media, ad-serving platforms, affiliate marketing platforms, and online travel, Momentum Ventures is a perfect seven for seven when it comes to launching successful businesses because they see venture capital differently thanks to its unique business model.
Most firms out there follow a very similar path. They go for the reckless home run swing with new, yet unproven ideas. While it will from time to time be lucrative, it overwhelmingly ends in failure. This is because firms leave almost every facet of their potential success up to chance. Whether it be staffing, leadership, consumer adoption, or simply the idea itself, venture capital firms need a lot of things to go right that are simply out of their hands.
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Momentum Ventures follows a different game plan. It chooses to instead gamble on its team of developers, marketers, and business leaders to redefine standard business models. A perfect example of this is with Momentum Ventures’ latest project, FlightHub.
Launched in 2012, FlightHub was a brand new company that had a simple, yet the time-proven concept of offering low-cost flights online. Momentum Ventures, banking on itself as a team that can execute better than any other, has taken this property and in three years turned it into a force, making $1.5 billion in annual sales and establishing it as one of the top online travel agencies in North America.
This was accomplished by analyzing the marketplace and identifying weaknesses in the existing industry. Momentum Ventures than exposed these weaknesses by creating a better online travel service which is now thriving in its marketplace.
Momentum Ventures CEO Matthew Keezer credits the success of the firm to the simple philosophy of controlling as many factors as possible, saying…
”Venture capital is essentially a gamble on an idea, consumer adoption, and marketplace conditions, at Momentum Ventures we prefer to place our bets on our awesome team executing and succeeding within a proven business model.”
Momentum Ventures believes it has now found a way to reinvent the venture capital industry by placing its bets on itself and its ability to analyze and outperform industry competition.
They have taken the microscope and placed it on themselves to see how they can be a more efficient and ultimately successful business, and it has paid massive dividends. To learn more, visit Momentum Ventures today.
It’s an interesting approach to the biggest problems standing in the way to success for traditional venture capitalist firms. It’ll be interesting to see what they do next.
Thank you for stopping by, Nick. Have you worked with VC firms or do you have any experience with them?