Measures taken by govt will improve Start-up ecosystem: TalentPad CEO

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Vaneeta Punchvedi | 18 May, 2015

The Indian Government has brought in some significant measure to help the start-up ecosystem. The recently announced Union budget speaks about introduction of a single, integrated, electronic form instead of 5-6 forms previously required to set up a company and this will certainly make it easier foraspiring entrepreneurs to start new ventures. Moreover, 'Make in India' and 'Smart Cities', programmes promise to create opportunities for new businesses, said Mr. Mayank Jain, CEO and Co-Founder, TalentPad in a exculisive interview SME Times.

Excerpts of the interview...

Please tell us something about 'TalentPad'.
Mayank Jain: TalentPad is a Curated marketplace connecting high quality talent with employers in the technology/internet/analytics space. The online recruitment platform was co-founded in 2014 by IIT and IIM alumnus, Mayank Jain, Nikhil Vij and Raghav Jain. The platform aims to solve two fundamental changes in the recruitment space - to source premium candidates and source them fast.

TalentPad aims to disrupt the premium hiring market by leveraging the unique advantages of a transparent, many-to-many platform. Basically, instead of a premium candidate running after companies one by one through inefficient and multiple channels like job-boards, career sites and headhunters, TalentPad creates a platform for them to showcase themselves to hundreds of employers (across segments and geographies) at once, and letting potential employers make the first move, resulting in better role/compensation for the candidate. The high point is that the process is executed within a week's time. For employer, TalentPad is a platform to zero in on curated and active candidates in a short span of time. It also brings in efficiencies in the process chain by leveraging technology.

How does "TalentPad" work and what is the specification of your organization?
Mayank Jain: TalentPad works on the principle of curation on both sides - supply and demand, to ensure efficient matchmaking. So, instead of a premium candidate seeking out companies one by one through inefficient and multiple channels like job-boards, career sites and head -hunters, TalentPad creates a platform for them to showcase themselves to hundreds of employers (across segments and geographies) at once and lets the employers make the first move, resulting in a better role/compensation for the candidate. The highlight is that the entire process is executed within a week’s time. For the employers, it is a platform to source highly curated and active candidates in a short interval of time. TalentPad also brings in efficiencies in the process chain by leveraging technology.

The process is simple and effective. Candidates have to complete and submit their profile on TalentPad. In an online job fair, shortlisted candidates receive job interview offers in less than 15 days with upfront details on job role, compensation, etc. Then it is upto the candidate to choose which interview offer to accept.

"TalentPad" is one of its kinds in the industry, how and when you felt the need of this?
Mayank Jain: The need for a curated recruitment platform struck me when I was working in one of my previous organizations and I was actively involved in hiring premium tech talent. During the recruitment process, I realized that not only was it difficult finding the right tech talent, but the availability of exclusive online tech hiring platforms was lacking in India. To add to it, there were redundant profiles, inactive and irrelevant profiles in our database. What bothered me the most was that the amount of time and effort invested did not meet the desired benefits.

What kind of response are you getting from your target audience since you had started this?
Mayank Jain: The response has been tremendously positive. Our clients have been pleased with our services and have contantly been coming back to us for future requirements. At present, 200+ companies are actively using the TalentPad platform to hire talent in their tech and product teams. These companies are mostly tech startups across categories like B2B, SaaS, e-commerce, online media, online education and online healthcare. Some of the well known brands include Snapdeal, Zomato, InMobi, Myntra, Housing and Ola Cabs.

As a start up company, how is your experience what are the problems that you had faced in your starting days?
Mayank Jain: The biggest challenge was getting a team together with professionals who share a similar ideology. We also faced a lot of hardship financially but the journey taught me lessons on humility and patience. The most important thing that I learnt in this process and would like to share with other aspiring and early stage entrepreneurs is to never give up your dream whatever might be the circumstance. In the pursuit of your goals, give it all you've got.

How is "TalentPad" beneficial for SMEs ( Small and medium enterprises)?
Mayank Jain: In the current Indian business scenario, most of the existing or emerging SMEs are focussed on ecommerce or technology. Considering the nature and competitiveness of the business, it is crucial for SMEs to find relevant and quality tech talent. TalentPad is an organization which exclusively deals with curated tech talent, where the search for tech and product talent is simplified and made efficient and cost effective for companies.

Funding is the serious matter for all start-ups, did it bother you as well?
Mayank Jain: Funding is indeed a crucial aspect for us, like it is for most startups in the country. But the effectiveness of our business model, coupled with the present tech hiring scenario enabled us to garner seed stage funding from Helion Ventures. Right now we are in the process of raising series A funding from global investors including that of Silicon Valley.

Do you think government is playing their role successfully?
Mayank Jain: The Indian Government has brought in some significant measure to help the startup ecosystem. The recently announced Union budget speaks about introduction of a single, integrated, electronic form instead of 5-6 forms previously required to set up a company will certainly make it easier for aspiring entrepreneurs to start new ventures. Moreover, 'Make in India' and 'Smart Cities' programmes promise to create opportunities for new businesses. Overall, I feel that the Government has taken significant step towards building an inclusive startup ecosystem in India. However, I also feel that to propel the growth of startups in India, relevant ministries have to understand the world of entrepreneurship and startups, and better align with the aspirations so that they can help aspiring entrepreneurs leverage opportunities that they wish to continue.