Job hunting is not often an easy task. Sometimes offers are many and sometimes not. Today job hunting starts the moment you steps out of the campus or even being in the campus. Also it is a fact that many efficient students from Tier 2 and 3 cities are not getting good opportunities like students from Tier 1 cities, as campus recruitments happen less there. Companies on the other hand admit that its time and money consuming to visit campuses for recruitments.
Two Young geniuses from Gurgaon envisioned their entry in this very dilemma. Harpreet Singh Grover and Vibhore Goyal is here talking to Small Enterprise India about their venture, CoCubes.com, established in 2007, to ease the troubles of job seekers and companies across India.
“The name CoCubes comes from the first two letters of three words, Connecting, Colleges and Companies. It is India’s first online platform that connects colleges and companies for campus recruitment. They envision a paradigm shift in the Indian campus recruitment scenario by using technology to drive efficiency.
They work only through colleges and no student can register individually without the placement office’s verification. When the popular online portals provide a 'company to individual' connection, CoCubes provides a 'company to college' connection. CoCubes’ partner campuses can invite companies to see their students online. Students of registered colleges gain access to quality material and information and are able to showcase themselves using their global homepage link and online video profile.
The entire campus recruitment process of large companies can be done online. Each student gets his profile online authenticated by the colleges and this can be forwarded to companies who can see the resume along with video profile.
They help colleges in Tier II cities differentiate themselves, get online and be visible to companies, thus increasing placements. At the same time our portal help premier colleges save 1000's of hours by streamlining internal communication through mailing, calendar and SMS utilities. Bringing them to a single place could help companies to reduce cost and also get quality people.
The duo speaks about their background and how this concept hit them.
On completing his graduation and post graduation from IIT Bombay, Harpreet Singh Grover has previously worked with Inductis, a management consulting firm. Beyond work he is a national squash player, a published photographer, poet and an amateur mountaineer. Vibhore Goyal completed his dual degree in Electrical Engineering from IIT Bombay. Working at Microsoft Research Centre brought him a lot of insight into the vast business opportunities which have come up in emerging markets. He was also the founding member at Babajob, a highly popular web 2.0 based platform which helps low-skilled people get jobs.
One of Harpreet’s far-off relative was a training and placement officer who had spent a lot of time and money travelling to metro cities visiting companies to persuade them to come over for campus placements. Companies would promise to visit but never did. Harpreet came to this college as a guest lecture on invitation and realised that the potential of students in Tier II/III cities was far more than perceived in metros.
“If these students were given the right visibility, they should also be able to pull it off. I had hours of brainstorming sessions with Vibhore to figure out how we could leverage our skills and technology to solve this real world problem. This is how CoCubes came into being with a vision to bring online every college across the country to provide equal opportunity to students says Harpreet. “We believe this is only possible by taking them online and creating a community of authenticated users” he continues.
CoCubes sales and marketing team is getting in touch with companies and promotes them for campus placement. Also colleges can generate login / passwords to invite companies to campuses.
The company was started with seed capital from their parents, old managers, friends and finally with VC by Ojas Ventures (by NS Raghavan, co-founder of Infosys).
About their revenues they say, “We charge an annual subscription fees from the colleges for managing and increasing placement ratios for our partner colleges. We also charge the corporate for building a talent pool on CoCubes.com platform to increase student engagement and reduce cost of hiring to attract the right talent”.
The biggest test for them initially was convincing the mindset of the corporate that this is the best way to hire, to gaining enough traction for colleges to pay an upfront fee to register, says Vibhore.
The founders being IITians, the networking with companies was rather an easy task for them. Their marketing team also puts various online and offline marketing efforts to promote the brand. “Towards online efforts we have the largest LinkedIn community of ‘Campus Recruitment in India’, we send promotional mailers, SMS campaigns and also newsletter to all corporate and campus clients. Moreover our sales team also goes across to companies” says Deepak Chawla of CoCubes’ Marketing and Communications Dept. Towards offline efforts they partner with various bodies like FICCI, ASSOCHAM, NASSCOM etc. for their HR event and also with colleges for various fests and events.
“The opportunity they envision ‘is vast!!!’. “Think about it, 20000+ colleges and 4 million+ students graduating every year. There are 7 lakh registered companies in India” they say. Also with the focus of education minister to increase the graduate enrollment ratio from 12% to 20%, the numbers of students are poised to grow at 10% annually. “The demand supply disconnect will become more acute”. So, they believe the opportunity is in creating a backbone on which the problems of sourcing, assessment and training can be solved resulting in increased employability.
They are already working in 12 states across the country. Their vision for 2010 is exceedingly clear cut and simple. They aim to work with 100 companies, and 1000 colleges.
The fast growth of Co.cubes grabbed the attention of many and was featured amongst the Top 10 emerging companies in India, NASSCOM Emerge Leaders Awards, 2010.