Revolutionizing Software Hiring with Tara: A Fair and Unbiased Approach

Table of Contents

1. Introduction
2. The Problem in the Software Industry
3. The Need for Diversity in Hiring
4. Introducing Tara: Analyzing Past Open Source Code
5. How Tara Works
6. The Success of Tara: Fortune 500 Companies
7. Faster Recruiting Process with Tara
8. The Impact of Tara on Contractors' Income
9. The Trend of Freelancing and Contract Positions
10. Moving to Buffalo: Hiring Talent from State Universities
11. Funding and Future Plans
12. Closing the Gap: Solving Product-Market Fit
13. The Size of the Market and Target Customers
14. Competing with Outsourcing Agencies
15. Pricing and Charging a Fair Price

📚 Introduction

In today's world, the software industry has become an integral part of the overall US economy, adding a staggering $260 billion in value. However, there is a major problem in the industry that needs to be addressed. The hiring practices in Silicon Valley have resulted in a lack of diversity, with a focus on hiring young males from Ivy League schools. This has created a gap in the market, preventing qualified individuals from entering the programming field. In order to bridge this gap and ensure a more inclusive environment, a revolutionary system called Tara has been introduced.

🌐 The Problem in the Software Industry

The software industry has experienced tremendous growth, contributing significantly to the US economy. However, the issue lies in the hiring practices adopted by Silicon Valley companies. The industry tends to favor a specific demographic – young males who have attended prestigious universities. This biased approach prevents individuals from different backgrounds, ages, and genders from entering the field, resulting in a lack of diversity. This problem needs to be addressed in order to tap into the full potential of the industry and provide equal opportunities for all.

💼 The Need for Diversity in Hiring

Diversity in the workplace is crucial for the success of any industry, including the software sector. Hiring individuals from a variety of backgrounds brings unique perspectives, experiences, and ideas to the table. It fosters creativity, innovation, and ultimately leads to better products and services. Increased diversity also promotes inclusivity and equal opportunities, ensuring that talented individuals are not overlooked based on factors such as age, gender, or university pedigree.

Tara: Analyzing Past Open Source Code

Introducing Tara – a revolutionary system that aims to address the hiring bias in the software industry. Tara takes a Novel approach by analyzing past open source code from programmers, rather than focusing on factors like age, gender, or university attended. By solely considering their code, Tara ensures a fair and unbiased evaluation of their skills and qualifications. This approach opens up programming as a medium for anyone who qualifies, irrespective of their background or educational credentials.

How Tara Works

Tara utilizes sophisticated algorithms and machine learning techniques to analyze and evaluate past open source code of programmers. By examining the quality, complexity, and efficiency of their code, Tara can accurately assess their capabilities. This unique method allows Tara to match programmers with suitable projects at Fortune 500 companies. It removes the biases that have long plagued the industry and provides an equal opportunity for programmers of all backgrounds.

The Success of Tara: Fortune 500 Companies

Tara has already gained traction among Fortune 500 companies, with enterprise customers leading to a substantial annual recurring revenue of $1.2 million. Industry giants like Cisco, Orange Telecom, and Ford have embraced Tara's innovative approach to hiring contractors. The traditional three-month recruiting cycle has been significantly shortened, with contractors being assigned to projects in as little as 24 hours. This speed and efficiency have revolutionized the way companies recruit and manage their workforce.

Faster Recruiting Process with Tara

One of the key advantages of using Tara is the time saved in the recruiting process. By predicting project scopes and allocating resources efficiently, Tara streamlines the hiring process for companies. Project managers can now save weeks of scoping work, allowing them to focus on other crucial aspects of the project. With Tara's assistance, the entire recruiting cycle is expedited, enabling companies to quickly onboard talented programmers and start working on critical projects.

The Impact of Tara on Contractors' Income

Tara's impact stretches beyond just the hiring process. It has provided significant opportunities for contractors, particularly women veterans and programmers from small towns. These contractors now earn annual incomes ranging from $50,000 to $125,000. Through Tara, contractors have access to a diverse range of projects at Fortune 500 companies, further enhancing their earning potential and professional growth.

The Trend of Freelancing and Contract Positions

The trend of freelancing and contract positions is on the rise, with estimates suggesting that 50% of the US workforce will be freelancing by 2020. Tara capitalizes on this growing trend by focusing on contract positions. By connecting contractors with Fortune 500 companies, Tara provides them with a stable and lucrative income source. This trend is only expected to increase in the future, making Tara's services even more valuable to both contractors and companies.

Moving to Buffalo: Hiring Talent from State Universities

To further expand its reach and hiring potential, Tara has decided to move to Buffalo. Buffalo provides access to a talented pool of individuals from state universities. By hiring an enterprise sales team that can operate on East Coast hours, Tara aims to capitalize on its customer base funded on the East Coast. Additionally, the team at Tara itself comprises individuals who have graduated from state-level universities, emphasizing the importance of hiring talent from diverse educational backgrounds.

Funding and Future Plans

Tara has already raised $2.1 million as a team of 13 mathematicians and machine learning engineers. However, the focus is not on overcapitalization but on building a sustainable and profitable company. With 22 months of Runway, Tara plans to further develop its product, meet its customers' needs, and refine its offerings. A future series A funding round will be pursued after achieving profitability, ensuring the company's long-term growth and success.

Closing the Gap: Solving Product-Market Fit

Closing the gap between the product and the market is a key priority for Tara. The company recognizes the importance of achieving product-market fit to attract significant investment. By focusing on customer needs and refining its product offering, Tara aims to secure five and ten million dollar term sheets in the future. This requires a deep understanding of the market, continuous improvement, and a commitment to delivering value to customers.

The Size of the Market and Target Customers

The market size for Tara is substantial, considering it competes with giants like Accenture, PwC, Deloitte, and Infosys. These outsourcing agencies rely on traditional methods without leveraging advanced prediction techniques. Tara's unique value proposition resonates with CIOs, engineering managers, and product managers who struggle with scoping products accurately and efficiently. By providing tangible time savings and rapid contractor assignment, Tara offers a compelling solution to meet the needs of Fortune 500 companies.

Competing with Outsourcing Agencies

Tara's disruptive approach puts it in direct competition with traditional outsourcing agencies. Unlike these agencies, Tara goes beyond project duration estimates and actively predicts project scopes. This capability gives Tara a distinct advantage, enabling it to compete with industry giants. By offering accurate scoping, quick contractor assignment, and a diverse pool of talent, Tara is poised to become a major player in the software hiring industry.

Pricing and Charging a Fair Price

Tara's pricing model has evolved over time, with an average customer spend of $15,000 initially. However, as the value and impact of Tara became evident, the average customer spending increased to $75,000. Future plans include closing a $250,000 contract next month, showcasing the growing recognition of Tara's value proposition. Pricing is a vital aspect, and Tara aims to charge a fair price for its services, offering a compelling solution that justifies the investment for Fortune 500 companies.

Highlights

• The software industry contributes $260 billion to the US economy, but the hiring practices are biased towards a specific demographic.
• Tara is a revolutionary system that analyzes past open source code to match programmers with projects at Fortune 500 companies.
• Fortune 500 companies have seen a significant reduction in their recruiting cycle with Tara, assigning contractors within 24 hours.
• Tara has provided contractors, including women veterans and programmers from small towns, with substantial income opportunities.
• Tara aims to hire talent from state universities by moving to Buffalo and plans to raise a series A funding round in the future.

Frequently Asked Questions

Q: How does Tara ensure unbiased hiring? A: Tara analyzes past open source code, removing factors like age, gender, or university pedigree from the evaluation process. This ensures a fair and unbiased assessment of a programmer's capabilities.

Q: What is the advantage of hiring contractors through Tara? A: Tara's efficient and predictive system allows companies to quickly assign contractors to projects, saving time and resources. This reduces the typical three-month recruiting cycle to as little as 24 hours.

Q: What is the current customer base of Tara? A: Tara has over 20 enterprise companies on its platform, including industry leaders such as Cisco, Orange Telecom, and Ford.

Q: How does Tara handle project scoping? A: Tara's resource allocation system includes predicting project scopes, providing project managers with accurate and efficient scoping. This saves them weeks of work and streamlines the entire project management process.

Q: How does Tara ensure profitability and sustainable growth? A: Tara has raised $2.1 million in funding and has 22 months of runway. The focus is on serving customers, refining the product, and achieving profitability before pursuing a series A funding round.