New Delhi, September 1 (IANS): As India charts a new digital journey across industries, companies are looking for top talent to scale. In such a scenario, the role of online recruitment and engagement platforms becomes paramount, which can enable companies to engage with candidates in the most interactive way to discover, assess and hire top talent.
EduHRTech Startup Unstop (formerly Dare2Compete) with over three million active users simplifies the entire HR lifecycle for businesses and for students, simplifying their career journey.
Ankit Aggarwal, Founder and CEO of Unstop, told IANS that unlike other edtech platforms, they don’t plan to get into organizing and selling courses, but offer students the opportunity to show off their skills, gain recognition, build their resume and get hired.
Here are the experts from his interview:
Q: What is Unstop’s long term vision and mission statement?
A: Unstop is a community engagement and hiring platform derived from our belief: #BeUnstoppable.
Unstop enables businesses to discover, engage, assess and hire the right #BeyondBoundaries talent through gamified engagements – hackathons, coding challenges, business case contests, simulation games, quizzes, hiring challenges, etc. This is in addition to the traditional method of personalized job postings to accept applications, conduct MCQs and coding assessments based on hard and soft skills, and conduct interviews.
Unstop also connects unstoppable talent to the world of opportunity to enable them to #GoBeyondResume. It empowers students and early professionals from all fields, regardless of background, to learn, practice, and engage in playful engagements such as hackathons, quizzes, case competitions, simulations, and more. , organized by companies and institutes for their recruitment, employer branding and general engagement needs.
In this process, they are rewarded, recognized, earn CV points and end up being hired by the companies of their dreams.
In the truest sense, Unstop democratizes engagements and hiring by connecting talent around the world.
Q: What is your USP? How do you stand out in the EdTech landscape?
A: To consider us as enablers of pure-play EdTech platforms. We do not intend to engage in curating and selling courses. We provide opportunities for students to show off their skills, gain recognition, build their resume, and get hired.
All of these EdTech platforms will thrive if their students are placed in their dream companies or excel in their field by outsmarting others in that segment. And we at Unstop do just that. Give them those opportunities. This is our USP and sets us apart from other players.
Our MOAT is our organically growing community of 3.5 million students and young talent in all fields. And those users become our customers through true product-driven growth.
We provide our platform for free to students to host their engagements on Unstop so they can promote it in their network. This allows us to acquire new user acquisitions and engage existing users. And companies want to engage and hire in this community for #GoBeyondBoundaries and #GoBeyondResumes.
It’s similar to users who create pages on FB and LinkedIn organically and then promote them to get more followers and subscribers. Eventually, this network effect makes FB and LinkedIn stronger with each new page. Similarly, Unstop strengthens its position with each new organic listing.
Q: Tell us about the scale of your operations and your plans for expansion over the next two years.
A: Given the start, we have grown humbly 2 times in the past two years. We now aim to grow 3-5x over the next two years on metrics such as revenue, customers, user base, user engagements, opportunity listings, etc. .
Today, we are a 3.5 million strong community of students in all fields – MBA, engineering, arts, sciences, business, etc., from 40,000 colleges and businesses. We get 3,000 organic listings on Unstop every month, which is 2x what we did last year.
We have over 200 businesses and colleges as paying customers, and this year over 60% of business is from new customers, and we expect 90%+ of recurring business from existing customers. This is phenomenal growth. Especially when your marketing spend is negligible.
We continue to invest 60% of our profits in existing use cases and markets, and 40% in new ones. This ensures that we penetrate our existing market while trying new areas for growth.
We are launching our B2C SaaS so that any business, regardless of size and budget, will start using us. We follow the AWS, Pay-as-you-go way of working and charge for discrete products and services to enable growth across all of your customers.
Q: Give us some examples (customer testimonials) of the impact you have had on students and businesses.
A: Walmart Global Tech India has launched two commitments to hire coders. Through diversity-focused hackathons (hiring challenge), Walmart engaged with over 90,000 female coders across the country and ultimately hired over 300.
Similarly, Amazon has engaged with over 22,000 MBA students in a single engagement, and Flipkart has engaged with 1.6 lakh engineering students.
And Unstop empowers students and early professionals from all fields, regardless of background, to learn, practice, and participate in playful engagements such as hackathons, quizzes, case competitions, simulations, and more. . organized by companies to highlight their skills, be recognized, obtain a CV points, and possibly be hired.
Over 3.5 million students and professionals use our platform.
Q: What are some of the emerging technologies that will further reshape education over the next 4-5 years?
A: From the perspective of our industry, anything that places students in an employment position will be favored. And companies like ours that provide opportunities for everyone #BeyondBoundaries and #BeyondResumes will multiply as companies also evolve with roles filled by top talent, regardless of their university, city and academic background. . Only their skills matter, and that’s how it should be.
Q: What has cloud technology and AWS enabled you to do that you couldn’t do before?
A: AWS allowed us to instantly scale into a secure environment to protect our data. As a SaaS business, spikes can happen anytime from anywhere in the world. AWS made sure we were ready for this spike.
Enabling new use cases at a glance, AWS’ ever-evolving ecosystem with new APIs and services helps us think about new use cases that we can use for our users. Example: We have one of the best next-gen monitoring mechanisms based on the Amazon Rekognition engine. We are working on a Netflix-like recommendation engine based on the Amazon Personalize engine.
We have provided a one-stop-shop solution to our customers through AWS One-Stop Solution. We performed 1.6 lakh ratings for one of our clients over 24 hours seamlessly due to serverless architecture and instant scaling.
We increased our capacity 20x by instantly registering with serverless databases. We halved our latency and worldwide availability by using a multi-regional availability cloud network. We launched new use cases and new features for our users in a third of the time thanks to AWS APIs like Amazon Rekognition.