Montreal Tech Watch

FlowConsulting, which was working with new technology entrepreneurs and companies for the past years, has relaunched last month. It’s the same team, headed by Raymond Luk, but with a new name, FlowVentures, and new goals, which is to support, fund, and grow new technology ventures.

I’ve been working with Raymond Luk for the Blitzweekend event, beginning from late 2007. We (which was then me, Mehdi Akiki, and Denis Canuel) were then looking for a sponsor and we were also tinkering with the idea; Raymond was the first who supported the crazy idea at the time, and also brought in simple and practical answers to get the event running. He has been going to most entrepreneur-focused events, such as FacebookCamps or Founders&Funders, and I think it’s this initial support which got the ball running for Blitzweekend.

Of course, the small anecdote doesn’t tell the experience or expertise of the flow team; but small things like this prove that Raymond supports entrepreneurs and goes out in the field to meet them, beyond all the marketing copy you can find on an investor or a consultant’s webpage.

Focusing Flow on entrepreneurs instead of big companies is a bold idea, and a much-needed help for Montreal entrepreneurs. As most local entrepreneurs know, MontrealStartup has been active in that space for more than a year, although they do focus exclusively on funding. Flow Ventures on the other hand, have HR experts, an engineering team, strategy consultants, i.e. all the operational expertise an entrepreneur needs when starting a new venture. Quote from the website:

Flow Ventures invests in and accelerates startups. Our unique model combines financing, strategy and hands-on operational services designed to grow new ventures quickly and efficiently. Flow can accelerate your startup by operating key areas of your startup including finance, software development, HR, business development and administration. This allows entrepreneurs to focus on their products and their customers rather than building infrastructure and capacity.

I also met Raymond last week, and he said one of his project was to organize some sort of startupMBA, which would provide all the basic skills a new entrepreneur must have (such as accounting or basic marketing etc.). Of course, they will also be present at most events, such as the upcoming StartupEmpire. 

The importance and role of FlowVentures for entrepreneurs cannot be overstated, especially in Montreal. It provides crucial guidance and support in the early phase of a venture, and will make the difference between life or death of an idea, in an industry where many choose to operate in less riskier areas, such as supporting profitable and bigger companies. So if you are an entrepreneur and have a project in the works, do meet them and see if you can work together.