“Stay humble, stay curious, and don’t be afraid to take risks’’— Shrikar Nag
Shrikar Nag, CEO & Co-founder at Tymeline, has recently shared his inspiring entrepreneurial journey in an interview with Business Upside. Tymeline, an AI-powered platform, is revolutionizing how companies approach human capital management. Using state-of-the-art technologies like blockchain, this platform offers a robust, automated identity verification system that eliminates human errors and deception, ensuring reliability and integrity in the hiring process. Its impressive traction, experienced team, and cutting-edge technology make it a leading force in the HR tech space, redefining how companies manage their most valuable asset – their human capital. Shrikar and his team look forward to taking Tymeline to greater heights.
Here is the excerpt from the interview:
Business Upside [BU]: What inspired you to start Tymeline, and what’s the story behind its founding?
Shrikar Nag [SN]: The inspiration to start Tymeline came from observing the challenges in the hiring process, both from the perspective of employers and candidates. The traditional hiring process often involves a significant amount of time and resources spent verifying candidates’ credentials and experiences. This process is not only cumbersome but also prone to errors and deception.
On the other hand, candidates often need help to effectively display their skills and achievements. They also face challenges in proving their potential to prospective employers. These observations led to the idea of creating a platform that could streamline this process, making it more efficient and reliable.
The founding of Tymeline was driven by the vision to leverage technology to transform the Human Capital Management landscape. We saw the potential of blockchain technology and AI in creating a tamper-proof journal of records sourced from verified and authenticated entities. This not only ensures the authenticity of each record but also allows for accomplishments to speak for themselves, potentially reducing the need for traditional resumes, interviews, and onboarding processes.
Tymeline was founded with the mission to create a platform that reduces the time and effort required to prove one’s potential to companies, thereby revolutionizing the hiring process.
[BU]: What were the major challenges you faced early on, and how did you overcome them as a co-founder?
[SN]: In the early stages of Tymeline, we faced several challenges. One of them was building a reliable and secure system that could handle sensitive data. Ensuring the privacy and security of our users’ data was paramount, and building a system that could effectively do this was challenging. We overcame this by investing in blockchain technology, which provides a secure and transparent method of storing and verifying data.
Another challenge was gaining the trust of users and stakeholders. As a new platform in the HR tech space, we had to convince users of the value and reliability of our service. We focused on transparency and user education. We communicated how our platform works, the measures we take to ensure data security, and the benefits of using Tymeline.
Lastly, like many startups, we faced the challenge of limited resources. As a co-founder, I had to wear multiple hats and juggle various roles, from product development to marketing to customer service. We overcame this by prioritizing tasks that would deliver the most value to our users and continuously learning and adapting to new roles and responsibilities.
These challenges were tough, but they also provided valuable learning experiences. They helped shape Tymeline into the robust and reliable platform it is today.
[BU]: Could you explain Tymeline’s vision for shaping the future of remote working?
[SN]: Tymeline envisions a future where remote work is not just a necessity but a choice that can lead to increased productivity, flexibility, and job satisfaction. Our platform can play a crucial role in shaping this future.
With our AI-powered platform, we aim to make the hiring process more efficient and reliable, regardless of where the employer or potential employee is located. By providing a tamper-proof journal of records sourced from verified and authenticated entities, we can help employers confidently hire remote workers without the need for traditional, location-dependent verification processes.
Furthermore, Tymeline’s AI algorithms can provide insights into a candidate’s job change behaviour and interests, helping employers understand how well a candidate might adapt to remote work. This can be particularly useful in a remote work setting where understanding a candidate’s self-motivation and adaptability can be crucial.
In the future, we also envision expanding Tymeline’s capabilities to support other aspects of remote work, such as team collaboration, project management, and employee engagement. By doing so, we aim to make Tymeline a comprehensive platform that supports all aspects of remote work, from hiring to day-to-day management.
[BU]: How has your technical business expertise influenced Tymeline’s growth?
[SN]: Technical business expertise has been instrumental in Tymeline’s growth. With a deep understanding of both the technical aspects and the business side of things, we built a product that not only leverages cutting-edge technology but also addresses a real market need.
On the technical side, our expertise in areas like AI, machine learning, and blockchain technology has allowed us to build a robust and secure platform. We’ve been able to automate complex processes like verification and talent analysis and provide a tamper-proof journal of records. This has given us a competitive edge in the market.
On the business side, our understanding of the HR tech space and the challenges companies face in the hiring process has helped us position Tymeline as a solution to these problems. We’ve effectively communicated the value of our platform to potential users and stakeholders, which has been key to our user acquisition and retention strategies.
Overall, our technical business expertise has allowed us to build a technologically advanced and market-relevant product, which has been crucial to Tymeline’s growth.
[BU]: What key strategies contributed to Tymeline’s success in a competitive market
[SN]: 1. Leveraging Cutting-Edge Technology: Tymeline’s use of AI and blockchain technology has given it a competitive edge. These technologies have allowed Tymeline to provide a unique service – a tamper-proof journal of records that can streamline the hiring process.
- Understanding the Market: Tymeline’s deep understanding of the HR tech space and the challenges companies face in the hiring process has been crucial. This understanding has allowed Tymeline to position itself as a solution to these problems, making it attractive to potential users.
- User-Centric Approach: Tymeline has focused on building a platform that is easy to use and provides real value to its users. By focusing on user needs and feedback, Tymeline has been able to improve its platform and retain its users continuously.
- Effective Communication: Tymeline has successfully communicated the value of its platform to potential users and stakeholders. This has been key to its user acquisition and retention strategies.
- Continuous Innovation: Staying ahead of the curve is crucial in a competitive market. Tymeline has been committed to continuous innovation, regularly updating its platform with new features and capabilities.
[BU]: How do you stay ahead in a rapidly evolving industry?
[SN]: 1. Continuous Learning and Innovation: In a rapidly evolving industry, staying updated with the latest trends and technologies is crucial. This involves continuous learning, innovation, and regularly updating our platform with new features and capabilities that meet the changing needs of our users.
- Listening to Customers: Our customers are at the heart of everything we do. By listening to their feedback and understanding their evolving needs, we can adapt our platform to serve them better.
- Staying Agile: Agility is key in a rapidly changing industry. We strive to maintain a flexible and responsive approach, allowing us to quickly adapt to market changes.
- Investing in Research and Development: We invest heavily in research and development to explore new technologies and ideas that can enhance our platform.
- Building Strong Partnerships: By building strong partnerships with other companies and organizations, we can leverage their expertise and resources to stay ahead.
- Fostering a Culture of Innovation: We foster a culture of innovation within our team, encouraging everyone to develop new ideas and solutions.
[BU]: What advice would you give aspiring entrepreneurs seeking funding for their startups?
[SN]: As someone who is still in the early stages of building a startup, I can share a few insights that might help aspiring entrepreneurs seeking funding:
- Believe in Your Idea: First and foremost, you need to believe your idea sincerely. This belief will not only motivate you during challenging times but will also resonate with potential investors.
- Build a Strong Team: Investors invest in people as much as they invest in ideas. A dedicated, skilled, and passionate team can significantly increase your chances of securing funding.
- Understand Your Market: Make sure you have a deep understanding of your market, including your target audience, competition, and market trends. This will help you build a product that meets market needs and demonstrate to investors that you have a viable business model.
- Prepare a Solid Business Plan: A well-prepared business plan is crucial when seeking funding. It should clearly outline your business model, financial projections, marketing strategy, and growth plan.
- Practice Your Pitch: Your pitch is your chance to convince investors that your startup is worth investing in. Make sure it’s clear, concise, and compelling.
- Be Persistent: Securing funding often takes time and involves many rejections. Don’t be disheartened by this. Be persistent, learn from each experience, and keep refining your approach.
- Seek Mentorship: Seek advice from mentors and other entrepreneurs who have gone through the funding process. Their insights can be invaluable.
Remember, we’re all learning as we go, and every entrepreneur’s journey is unique.
[BU]: How does Tymeline foster innovation and maintain team motivation?
[SN]: 1. Fostering a Culture of Innovation: At Tymeline, we believe that everyone has the potential to contribute innovative ideas, regardless of their role or level in the company. We encourage all team members to think creatively and share their ideas, and we ensure that these ideas are valued and considered.
- Continuous Learning: We promote a culture of continuous learning and provide opportunities for team members to develop new skills and knowledge. This helps us stay at the forefront of our industry and keeps our team members engaged and motivated.
- Open Communication: We maintain an open and transparent communication culture where everyone feels comfortable sharing their thoughts and feedback. This helps us promptly identify and address any issues and fosters a sense of trust and collaboration within the team.
- Recognition and Rewards: We recognize and reward our team members for their hard work and contributions. This motivates them and fosters a sense of ownership and pride in their work.
- Work-Life Balance: We understand the importance of work-life balance and strive to create a flexible and supportive work environment. This helps our team members stay motivated and prevents burnout.
[BU]: Looking back on your journey, what’s the most valuable lesson you’ve learned?
[SN]: One of the most valuable lessons learned on this journey is the importance of resilience. Building a startup is a journey filled with ups and downs. There will be moments of success, but there will also be challenges and setbacks. The key is to remain resilient in the face of these challenges, to learn from them, and to use them as opportunities for growth and improvement.
Another important lesson is the value of a strong team. A dedicated, skilled, and passionate team is one of a startup’s most valuable assets. It’s crucial to invest in your team, foster a supportive and collaborative culture, and ensure that everyone feels valued and heard.
Lastly, the importance of staying customer-focused must be considered. The success of a startup depends on its ability to meet the needs of its customers. It’s crucial to listen to customer feedback, understand their needs and challenges, and continuously strive to provide a product or service that adds value to their lives.
[BU]: What advice would you offer aspiring entrepreneurs in our country?
[SN]: Stay humble, stay curious, and don’t be afraid to take risks
Further Details
Website
Company website URL– https://tymeline.id
Company LinkedIn URL– https://www.linkedin.com/company/tymeline
LinkedIn– https://www.linkedin.com/in/shrikarnag/
Also Read: Entrepreneurial Journey of Abhilasha Manchanda, the Founder at the Virtual Bliss
