PRESS RELEASE:
LOS ANGELES–(BUSINESS WIRE)–November 18, 2014–
ventureLab Growth Partners today announces its launch as a ‘startup studio’ designed to develop marketable technologies and help entrepreneurs more efficiently build and commercialize early-stage startups.
With offices in Los Angeles and San Francisco, the ventureLab team identifies potential technologies that fit specific opportunities in both U.S. and international markets then develops each into independent businesses within strategic groups.
Each startup team receives seed funding along with daily hands-on product, marketing and operational support. By working with a global network of commercial partners, the studio is also able to provide immediate access to real market insights, live audience data and revenue-generating partnerships.
“In the early-stage, startup founders are focused on building product. We focus on building the business by efficiently identifying and developing both product-market fit and key revenue streams,” said Mike Prasad, Founding Partner, ventureLab. “This revenue-first approach rapidly accelerates early growth for the startup while minimizing risk for investors.”
The founders behind ventureLab represent a seasoned team of entrepreneurs whose collective experience spans decades of product, marketing and brand development across startup, agency and corporate environments. Strategic, technical and operational support at this critical stage allows portfolio companies to concentrate on product execution and core competencies while a strong foundation is built for the business.
“I am impressed with ventureLab’s core approach and believe it will allow each portfolio company the greatest chance at success,” said Michael I. Waitze, Founding Partner, Metaliq Growth Partners. “I very much look forward to partnering where appropriate to help grow its business in Southeast Asia and other international markets.”
PORTFOLIO OF CLUSTERS
ventureLab startups are ‘clustered together’ based on complementary positions within a market sector. This approach is designed to leverage key talent, industry relationships, expertise, and operational support. In this way, the studio creates an optimized ecosystem of strong product relationships and business advantages that drive efficiencies between startups.
The first ventureLab cluster is centered on advertising technology and consumer engagement around the confluence of social/gaming media, content and community. Future clusters include digital health and app-driven commerce, as both have been identified as key emerging trends for 2015 that the studio has advantages in.
ABOUT VENTURE LAB
ventureLab is a startup studio that builds and invests in innovative technologies by providing entrepreneurs with seed funds, business resources and global relationships. The team focuses on both the product and core business to develop a clear path to revenue, then aligns startups with the consumers, commercial partners, and markets that match it best. More information about ventureLab and its studio of startups is available at http://www.goventurelab.com.
The Collaborative
Shawn Parker, (310) 903-6806
media@goventurelab.com