Adam and I founded Decent Labs a few years ago because we had fallen in love with startups and wanted to spend all of our working hours solving problems using emerging technology. Since then, we’ve seen more than our fair share of trials and tribulations as business operators, learned more than we could have ever imagined, and persevered. Our team now consists of eight extraordinarily talented designers, engineers, and startup junkies who dedicate all of their time to helping Decent Labs companies succeed.
Last year, we became frustrated that we couldn’t work with all of the startups we were presented and truly interested in. Some of the best ideas we encountered were underfunded and hiring a development agency is expensive. Many startups had been burned by the perverse incentive structures offered by these agencies. Without a safe option, they end up choosing to work with a technical co-founder who is dedicated but lacks the diverse skill set and talent offered by a full team.
At Decent Labs, we felt this experience was a symptom of a flawed model for early stage startups. In a moment of clarity, we came up with a new model to address these issues: the venture studio. By combining the incentive structure of a co-founder, the resources of a development agency, and the network of a venture fund, we are able to work with startups who have extremely limited resources and build them world class products. Decent Ventures is a new program offered by Decent Labs to companies with high growth potential, industry expert founders, and a clear path to economic sustainability. We believe, especially during the new recession, this model will prove to be the lowest risk strategy for a startup to get to market.
In September 2019, we set out to raise the capital we needed to expand and support our new business model, and on Thanksgiving Day we closed our financing led by personal advisors with extensive experience in startups, venture capital, and private equity. Since then, we have partnered with companies in the cryptocurrency, commercial real estate, cybersecurity, esports, finance, and healthcare industries. We are building a new generation of startups led by industry experts, grounded in solid business fundamentals, and focused on a clear path to economic sustainability.
Stay tuned for more announcements in the coming weeks as we share feature articles about our portfolio companies, their founders, and their missions.
Thank you and be well,
CEO, Decent Labs