Bengaluru: HR Services & Staffing Industry and HR Tech is an emerging space in the startup ecosystem. Some India based HR Tech startups have already made their presence felt. Now, Kelly Services, Inc. a leader in providing workforce solutions, and Temp Holdings Co, Ltd, a leading talent solution provider, have jointly launched dedicated corporate venture capital (CVC) fund for the Indian HR market. In this HR startup fund, Temp Holdings owns 51 per cent of the expanded joint venture while Kelly Services owns the remaining 49 per cent.
The fund is named as Temp Innovation Fund, which will focus on funding and acquiring disruptive HR start-ups in the recruitment and staffing sector. The fund was launched early this year by Temp Holdings in Japan and is now accessible to all global markets. With the digital technology led by HR Cloud, the HR practices are transforming globally. The wave of HR transformation offers more opportunities for startups.
“Globally the staffing industry is a USD 400 billion industry out of which USD 180 billion is contributed by the US domestic market alone. The Indian HR market is about USD 10 billion plus including all technology platforms and growing rapidly. We are looking out for start-ups harnessing complex algorithms, predictive analytics, patented platforms and other digital technologies that can enhance the Human Resources productivity,” said Mr Kamal Karanth, Managing Director, Kelly Services India.
The HR Startup fund will act like an angel and handhold the investee companies. With its launch in India, Kelly has already started its search for the right fit start-ups across the country. “We are bullish about India and are open to invest,” added Mr Karanth.
Kelly Services India was established in 2001 and today is one of the leading staffing and recruitment firms in India. It has grown at a fast clip fuelled by organic growth. The acquisition of technologies, talent and client roster through the investment fund would bolster the next stage of growth for Kelly in India.
