#Japan #Tokyo #Startup #StartPass #CxO-Pass

StartPass Launches CxO-Pass DB

StartPass, based in Shinjuku, Tokyo, has collaborated with Axis Consulting to unveil the CxO-Pass Database (DB), a service designed to connect startups with top executive candidates (CxOs). Recently, the database surpassed 2000 registered candidates. This release is complemented by a unique campaign allowing startups to preview three candidate profiles without any cost or registration.

Growing Numbers and Performance Metrics

As of now, the CxO-Pass DB boasts over 2000 registered candidates, comprising around 30% from prestigious management consulting firms and those with previous startup executive experience. Notably, the response rate for interview requests exceeds 60%, with an average time from scouting to meeting set at approximately two weeks.

Background of the CxO-Pass DB

StartPass believes that engaging the right talent at critical times leads to significant breakthroughs in management. Observing a rising demand for executive talent among startups, it has rolled out the CxO-Pass DB to empower founders in their search for suitable candidates.

Currently, many startups struggle to attract high-caliber talent due to insufficient brand recognition or competitive compensation packages. Existing direct scouting platforms tend to yield a mere 1-3% response rate, posing challenges for busy founders. Additionally, the job market predominantly features candidates actively seeking immediate employment, making connections with potential future CxO candidates quite difficult. However, the CxO-Pass DB is consistently adding over 150 candidates monthly, embodying the approach of 'deciding after searching,' rather than 'searching after deciding.'

Insights from Leaders

Fumitaka Ito, COO of Axis Consulting, emphasizes that startups need appropriate talent at the right time to tackle various management challenges. With the exceeding 2000 registered candidates, the possibilities for matching diverse executive roles with different stages of growth have expanded, enabling greater support for ambitious startups.

Seki Kobara, CEO of StartPass, underscores the mission of making Japan a startup-friendly nation by enhancing resource procurement mechanisms. The CxO-Pass DB aims to enable founders to access necessary talent when required, while also focusing on the quality of those connections. Notably, a new video pitching feature has been introduced with the official launch, allowing founders to present their vision in their own words, thereby enticing potential executive candidates.

The '3-Candidate Preview' Campaign

Before registering on the CxO-Pass DB, startups can participate in the '3-Candidate Preview' campaign, enabling them to anonymously preview three candidate profiles. This initiative is geared specifically towards founders and will process requests within an estimated three business days, contingent on the volume of applications received.

How CxO-Pass Works

The CxO-Pass DB acts not just as a database but as an integrated platform that addresses startup management challenges by suggesting more than 1500 meticulously selected CxO candidates through AI. The entire process, including securing interviews, is streamlined into one cohesive flow, analogous to receiving personalized scouting messages tailored to the startup's needs.

Additional Features of CxO-Pass

1. AI Natural Language Search: Founders can input their management challenges in natural language, allowing AI to automatically extract suitable candidates based on their specific needs.
2. Automated Personalized Scouting Messages: AI generates tailored outreach messages combining startup details with candidate profiles, yielding an impressive 60% response rate.
3. End-to-End Flow: The DB is designed for gradual commitment, minimizing mismatches and ensuring optimal timing for both founders and candidates.
4. New Pitch Video Functionality: The new feature allows candidates to contact founders based on their pitch videos, thus facilitating a deeper connection beyond traditional messaging.

User Experience and Costs

The CxO-Pass ensures high-quality matching, with the application process being free up until meeting requests, while a basic contract with StartPass is required post-interview approval. Should candidates engage as part-time employees, a service fee of 15% applies; while for full-time positions, the fee is set at 30%.

Success Stories with CxO-Pass

Case 1: Transitioning from Part-time to Full-time

A manufacturing AI startup faced a severe delivery challenge, urgently requiring versatile talent. Traditional hiring channels offered little success. Engaging via the CxO-Pass, they recruited a consultant part-time to improve their processes, leading to a natural transition to a full-time role.

Case 2: Crafting M&A Equity Stories

For M&A documentation, a startup required detailed narratives to persuade potential buyers. They utilized CxO-Pass to collaborate with a senior candidate from a major consulting firm, refining their materials to significantly improve persuasion rates.

Case 3: Navigating Enterprise Sales Cycles

A SaaS startup expanding into the enterprise sector struggled with an unclear decision-making process. By leveraging insights from CxO-Pass, they adapted their approach, resulting in improved deal progression and a stronger contractual framework.

Conclusion

With its innovative CxO-Pass DB, StartPass is not just revolutionizing executive recruitment for startups but also shaping the future landscape of entrepreneurial talent acquisition in Japan. As they continue to bridge gaps between startups and executive candidates, the potential for growth within Japan's startup ecosystem remains promising.

Company Overview

StartPass, established in November 2021, is committed to facilitating startup management through innovative solutions, working towards making Japan a fertile ground for startups. For more information, visit StartPass.