GAINESVILLE and BOCA RATON, Fla., March 15, 2017 /PRNewswire/ -- The Florida Institute for the Commercialization of Public Research (the Florida Institute) announced today that it has finalized a funding agreement with Candidate.Guru, a Boca Raton-based company with technology developed at the Florida Institute for Human Machine and Cognition (IHMC). The Florida Institute supports new company creation based on publicly-funded research, and bridges early funding gaps for companies spinning out of Florida-based universities and research institutions.
Studies show that 60% of new hires who fail, fail because of a bad match with their manager. These mismatches can cost companies 2.5xs salary lost in productivity. Candidate.Guru solves this problem with an artificial intelligence solution that can predict a culture fit between companies and prospective job candidates without the need for surveys and assessment tools.
"The idea for the company was born out of my own frustration with many of the recruiting tools and technologies in the marketplace," said Christopher Daniels, Candidate.Guru Chief Executive Officer. "Prior to Candidate.Guru, the only way a company would know whether job applicants were a culture fit was to speak with all of them which isn't realistic for companies that get hundreds if not thousands of job applicants. Our customers can easily submit job candidates to Candidate.Guru via LinkedIn, job boards and human resource systems, and we then return them in rank order based on strength of the culture fit with a specific hiring manager, team or the company itself. This enables our customers to prioritize thousands of job candidates instantly and reach out to the best culture fits first."
"Candidate.Guru is improving the hiring process by enabling companies to hire the best candidates more efficiently, thereby increasing long term employee productivity," saidJackson Streeter, MD, Florida Institute Chief Executive Officer. "The Institute looks forward to supporting Candidate.Guru as the company provides companies with the tools they need to build world-class teams."
About the Florida Institute
Formed by the Florida Legislature in 2007, the Florida Institute for the Commercialization of Public Research is a non-profit organization that works collaboratively with the technology licensing and commercialization offices of Florida's state universities and private research institutions to leverage a $2.5B+ research base and form investable companies that create clean jobs in new industries that are driving the global economy. With funding from the State of Florida through the Department of Economic Opportunity, and through the generosity of mentors, advisors and donors, the Institute provides company building services, and seed funding through the Florida Technology Seed Capital Fund, to promising Florida startups. Sixty-five companies have been funded to date, and the Institute's economic impact through June 30, 2016 in the State of Florida was $630 million.
Founded in 2014, Candidate.Guru has a patent pending cloud-based solution that can predict a culture fit between job candidates and companies without the need for surveys and assessment tools. The Candidate.Guru Culture Fit Prediction Engine™ combines machine learning, predictive analytics and artificial intelligence to help recruiting organizations curate and prioritize massive candidate pools based on the best possible fits for their companies. Candidate.Guru is proud to have been chosen as the #1 start-up in Florida by the Miami Herald and win first prize in the Florida Early Stage Venture Capital Forum annual conference. Please visit www.candidate.guru to learn more.
Chief Operating Officer
Institute for the Commercialization of Public Research
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SOURCE Florida Institute for the Commercialization of Public Research