Our member TalentMarketplace has been accepted into the Build in Canada Innovation Program (BCIP), an initiative aimed at bolstering innovation in Canada. This decision means that TalentMarketplace will be made available to Canadian federal government agencies, accelerating the adoption of their project recruitment platform and prequalifying their innovation at a government level. Launch Academy is excited to shine a spotlight on the TalentMarketplace team and gain insight about how the BCIP will help drive their success.
TalentMarketplace is a web platform connecting project management talent to the employers that need them. It does so by enabling employers to access a pre-screened pool of Project Managers, Business Analysts and Coordinators in a simple, efficient way. They do this through great UI, subject matter expertise, and a specialized machine learning matching algorithm. TalentMarketplace has been able to address some of the many industry pain points by reducing time wasted during hiring processes and providing a curated marketplace. By providing a pre-qualified talent pool, TalentMarketplace is saving hiring managers and internal recruiters both time and thousands of dollars in recruitment fees traditionally paid to recruitment agencies.
After high-school, Qaid Jivan Co-founder of TalentMarketplace, found that working through a recruitment agency in his gap years was an efficient and exciting way to make money. Through this experience of working through recruitment agencies (touching odd-jobs of everything from a candlemaker to an aquarium groundskeeper), he learned about the pain points which recruitment agencies solved, and how large of a market the recruitment industry was. Though he didn’t know it at the time, the seed of TalentMarketplace had been planted.
The idea grew during his Business Administration studies at SFU, his experience working for the Project Management Institute and some of IT/Healthcare’s largest projects. This led Qaid to acquire the knowledge and connections necessary to start bringing his idea to life. The TalentMarketplace founding team grew from just Qaid to include Steven Ruggles and Senior Developer Scott Hirsch. Once the MVP was created, the growth they saw was exponential. In just 1 year, TalentMarketplace has accumulated a platform of thousands of project delivery candidates and hundreds of employers. Bootstrapped, they hit revenue within five months and broke-even in ten. Their rapid success comes from their combined experience, industry knowledge, agile product development strategy, and, most importantly, their clearly defined niche.
BCIP and the Future of TalentMarketplace
The Build in Canada Innovation Program is designed to help Canadian companies bring their innovation to market and help the government of Canada fill an innovation gap. BCIP does this by allocating budget of $500,000 to $1,000,000 for government agencies to spend on qualified Canadian innovations. TalentMarketplace was introduced to the program at a Launch Academy Standup by a BCIP Program Manager. TalentMarketplace was a great fit for the program due to the high demand for project managers in Federal government agencies and the presence of complicated hiring processes and lack of screened talent pools.
TalentMarketplace is now listed as a prequalified innovation available for testing on BCIP. This accomplishment is elevating TalentMarketplace to whole new playing field by allowing them to grow into a new market, obtain valuable feedback, and continue to improve their platform. Now that TalentMarketplace is prequalified, they will get matched with government agencies that would benefit from the TalentMarketplace platform. Going forward, TalentMarketplace is focused on getting their first match, continuing to expand their core technology platform, and growing their client base and talent pool.
Launch Academy is looking forward to seeing the TalentMarketplace team achieve many more milestones!