RecruitmentSmart wins InnovateUK award for AI recruitment platform to help UK economy during Covid19
Looking to make a difference in this world crisis triggered by Covid-19, Recruitment Smart has been felicitated by Innovate UK, for its AI enabled offering called the ‘Talent Support Platform’. The platform helps to match talent with available opportunities and aims to move a minimum of 100,000 candidates into appropriate employment every year, yielding an expected year-5 post-project return of £10M in the UK. It is the first of its kind and seamlessly brings all stakeholders together for uninterrupted movement between talent and job roles. It greatly reduces the operational and transaction costs while optimising the talent supply chain.
In the words of Innovate UK Executive Chair Dr. Ian Campbell – “In these difficult times we have seen the best of British business innovation. The pandemic is not just a health emergency but one that impacts society and the economy”. He also added that – “An AI recruitment platform that will move a minimum of 100,000 candidates into appropriate employment every year, along with every initiative Innovate UK has supported through this fund, is an important step forward in driving sustainable economic development. Each one is also helping to realise the ambitions of hard-working people”.
Pawan Lokwani and Yusuf Jazakallah, Co-Founders of Recruitment Smart added – “We are excited to build the marketplace to help match skills with available job opportunities. The platform will especially help the 4M potential furloughed candidates in the UK who can use the platform to find exciting job opportunities. Recruitment Smart’s AI platform will be designed to help employers find new opportunities for the workers they need to let go. It will bring the three stakeholders of employer, employee and potential new employer together onto the platform, allowing seamless movement and limiting hiring and operational outlay”.
InnovateUK, as part of UK Research and Innovation, invested up to £191 million to fund single and collaborative research and development projects such as the ‘Talent Support Platform’ as part of their Sustainable Innovation Fund over the next two years. The aim of these competitions is to help all sectors in the UK rebuild after the effects of COVID-19. Currently, the Sustainable Innovation Fund is funding 1,103 projects, 1189 UK businesses and totalling over £130 million in support across the UK.
About Recruitment Smart:
With offices in the UK, Poland, India and the Middle East, Recruitment Smart is a tech start-up on a mission to bring disruptive technology to the recruitment industry. The team includes veterans from both the recruitment and tech industries. The organization’s ethos is to build products that are highly-attuned to our customer’s needs and value requirements. It has a strong team that is fuelling the growth, with Co-Founders Pawan Lokwani and Yusuf Jazakallah, Digital Strategist Vikas Singh and Finance Director Khalid Memon, who have given strong foundation to the company as they come with consulting and technology backgrounds having worked with EY, IBM and KPMG and strong domain experience in the HR market. The start-up already works with a number of enterprise clients globally like Capgemini, Alfuttiam Group, Siam Cement group etc and have partnerships with SAP, Oracle, Cornerstone product solutions in the HR domain. The startup has been supported by existing European investors – Alfabeat, Force over mass, The HR Tech Partnership. Recruitment Smart has so far helped to hire 200,000 shortlisted candidates in Europe, Asia and Middle east and the AI algorithm predicts the best hires for organizations.