Howell cited poor market conditions and differing views on the proposed business model for the failure of the venture.
The consultancy had aimed to acquire companies and offer clients a range of services, from ideas generation to business strategy and ultimately advertising.
"We have not been able to find the funding we were looking for," Howell said. "The venture capitalists wanted to see value extracted from each individual deal but we wanted to see value extracted from the whole entity. Perhaps we were a year too early for the financial community."
Howell formulated the business plan for The Growth Organisation alongside Piers Schmidt, a former partner at the now defunct branding consultancy The Fourth Room, and Robin Price, a fellow HHCL & Partners founder.
The partners had initially given themselves until Easter to secure funding but decided to extend the research period until the end of May to exhaust all avenues.
The idea behind the ill-fated business was for the acquired companies to become part of the holding vehicle, The Growth Organisation. It also aimed to create best-of-breed partnerships and channel all of its services through an "engine room", called The Growth Consultancy.