It’s no secret, folks, that the D.C. Metro area continues to build a reputation as a hotbed for innovative startups. This innovation and growth could not be possible without strong venture activity over the last few years. In a recent report from Pitchbook (source: National Venture Capital Association), the Washington metropolitan statistical area is well on track to raise more than $1 billion in venture funding this year, with $897.5 million raised in the first three quarters. In 3Q 2016, the DC Metro area ranked 8th in the country on deal count alone.
“VC Deal Count per major metropolitan area in the United States, Q3 2016
(source: Pitchbook/National Venture Capital Association),”
With the increase in startups comes the need for more engineering talent. This classic supply and demand scenario has recently created the tightest start-up job market, and companies across DC, Maryland & Virginia are looking to Founders, Board Members & VC backers for support. Silicon Valley has already seen this scenario play out. As a result, a handful of venture firms, including some of the larger VCs in the country, are now stepping up to help by hiring full-time tech recruiters at their firms (source: The Wall Street Journal). While this can be a temporary solution, a more effective long-term strategy in identifying top talent that seems to fit well among many venture firms is engaging directly with specialized recruiting firms, like hatch IT.
The team at hatch has recognized that the current state of recruiting is not designed to satisfy the needs of growing startups. In an ecosystem saturated with high-cost staffing firms, hatch has designed an alternative specialized recruiting solution (RPO-4-Startups) that a few DC-based tech startups have already adopted. As a result, these companies have realized 30%-40% cost savings vs. standard staffing rates and reduced their time to fill urgent engineering openings, amongst several other benefits. Our mission is to get the word out to the VC community and offer you an alternative solution you can recommend in your next board meeting when staffing comes up. If you are interested in learning more about how our RPO-4-Startups model could work for you, fill out the request form below to receive our detailed hatch RPO4-Startup capabilities deck. We’d love to be a resource for your firm & portfolio companies going into 2017!
