The best way to confirm the effectiveness of your business model is MIT EF CEE – ChallengeRocket’s talent recruitment method case study
The MIT EF CEE programme helped us validate the entire model of ChallengeRocket’s hiring platform. As a result, we can be more effective in helping HR professionals worldwide match the best candidates to their open job positions. Faster. More effectively. Based on proven skills confirmed by unbiased AI assessment.
Why we decided to participate in the MIT EF CEE program
We wanted to level up our business game and you can’t do it in isolation. MIT EF CEE is a class of its own so the decision to go for it was easy. It wasn’t that easy though to get inside as it’s one of the most recognized and prestigious accelerator programs in this part of Europe. But we’ve made it!
It made perfect sense from our business perspective. Our business is about helping companies worldwide run more effective recruitment campaigns and get more better matched candidates. We wanted to structure it well and formulate convincing business offer. We knew that participation in the program and becoming a part of MIT CEE ecosystem would give us the proper boost. And we were right!
How we benefited from the acceleration
MIT CEE EF has significantly accelerated ChallengeRocket’s progress on multiple fronts including product, sales, fundraising as well as team maturity. MIT EF CEE has provided exceptional support and training that would otherwise not be available for us. Plus, we got a chance to interact with amazing startups that were part of our cohort.
As part of the program we had a chance to cooperate with PZU and started a pilot of recruitment campaign for the biggest insurance company in Poland. They used our methodology based on the so-called “Skill Challenges”. Candidates demonstrated their real one-the-job skills on the platform. Top individuals have been invited to the next stage of the recruitment process. In 2 months, the pilot brought together more than 500 specialists around the brand!
How the MIT journey influenced our success
Having eyes of the mentors and other companies on our business was invaluable. It helped us achieve more in 2019. We’ve raised PLN 5.6 million in capital to fuel further growth, won several prestigious sector awards and validated our business model with more clients. We were acknowledged as the best start-up at the Economic Forum in Krynica, and in December, we won the “Startupy w Pałacu_EKSPANSJA” competition, receiving a memorial certificate from the hands of the President of Poland. Also, we won 1st prize at GITEX, the largest technology conference in the Middle East, Africa & South Asia. We were privileged to be part of MIT CEE story and I definitely recommend it.
Was it worth participating?
If anyone is considering whether it’s worth it – my advice is simple: go for it! There are a lot of accelerators popping up these days. With MIT CEE you may be confident about the quality of everything you receive. MIT team and mentors are going to provide you with the direction, experience, knowledge and some emotional support as well. Also demo day does become incredibly valuable – especially if you can go in strong with great traction and a great story! MIT CEE puts a lot of spotlight at their cohorts. And it’s all equity-free: which means that in exchange for wisdom and insights you’re receiving you don’t need to take away any stake in your business.