Riipen Networks Inc. is the only big data company that provides continuous employer branding and an improved recruitment process for emerging talent through its skill-building assessment platform, Riipen.com. We replace the inefficient, outdated resume with short-term, skill-specific projects as the starting point of how companies and students engage with each other.
For companies, Riipen facilitates a new, convenient, continuous, and single way to build their brand on all campuses at once – targeting the next generation of employees, consumers, and decision makers, early on in their post-secondary education thereby creating brand ambassadors. As students do industry-based projects in and outside of the classroom, companies are able to compile a curated list of students and recent grads with the right skills to succeed at their company.
For schools, Riipen makes their students more employable upon graduation by facilitating industry projects that help build skills, many of which are not taught in school. Schools pay for private branded portals where projects, initiated by professors, alumni, or co-op and career services staff, are only available to their students.
Riipen was founded by students for students. It was born out of the entrepreneurship specialization at UVic by a group of students that looked at the majority of their peers who had graduated and still did not have a job in their field. After researching and finding out that graduate underemployment was at its highest rate in history and the skills gap between academia and industry was at its widest point in history, the team started Riipen as a social enterprise to help solve this social problem. The team found that employee turnover rates were also the highest the world has ever seen and conceptualized Riipen as a platform that could reduce all of these together, as they were directly interconnected.
Product or Service
Riipen.com is currently in its third iteration and has been conceptualized as a mix between LinkedIn and Monster with a dating site twist. We released our MVP in December 2013. In August of 2014, after feedback from customers and users, we released Riipen2.0, which included a completely rewritten client & server code; decoupling server into a pure RESTful JSON API, which enabled us to build apps on other platforms (iOS, Android, Windows); revamped user model with multiple users per organization; internal messaging service; featured projects and organizations; case-based learning algorithms for matchmaking and gamification; and better analytics. In September 2015, we launched school private portals which allowed professors to submit assignments which are then matched to industry partners. So instead of stale old cases or fictitious problems, students get to work with real companies, gaining them relevant experience of employable skills.
We have two major customer segments: post-secondary schools and organizations that want to engage with emerging talent at those schools because they are the next generation of consumers and the next generation of employees. While this could be any organization, our primary focus is on medium-large firms throughout North America, which are: (1) continuously recruiting entry-level computer science and business students due to high employee turnover and an increased gap in skills between what they learn in school and what industry needs; and (2) located in urban centres with at least one post-secondary education institution. Secondary segments included in those geographical areas are startups, small businesses, and non-profits. In North America alone there are 100,000 degree-granting, post-secondary institutions and over 5 million organizations that fall into our primary and secondary markets.
Riipen charges, on average, $100 for a company to participate in a single class project.
Riipen charges, on average, $2000, per semester for a school to have a private branded portal with Data Analytics.
Use of Proceeds
|Intended use of funds listed in order of priority||Total amount ($)|
Riipen plans to grow dramatically over the next several years and will be reinvesting its operating cash flow in to the continued growth of the company. Once operations have reached optimal level, management will consider the best strategy for its shareholders. This may include a strategic merger or acquisition, or an initial public offering.
Please note that every dollar invested in Riipen goes directly to combating graduate underemployment.
This Offering is available to:
Friends and Family of Officers and Directors
Business Associates of Officers and Directors
Any Crowdfunding Investor
How Long is a Typical Project?
There are two main types: 1) Projects that we transform from in-class assignments that professors have made, which could be a week to a full semester, as it is up to the discretion of the professor because it is for academic merit and we have no control over in-class assignments. 2) Projects initiated by industry are generally 2-4 hours.
Is this free labour from students?
NO! Most in-class work that students do is ONLY recognized for its academic merit, but many assignments have industry relevance and unfortunately the value of industry experience is not being recognized and so students graduate and can’t get a job because they have no relevant experience. But this is not true! They’ve done work. So, for in-class projects, companies are giving their time in order to give students the added recognition they deserve for doing industry-relevant skills and work while inside the classroom. If they like what the students did, the students get added to their “talent pool” and they are considered for future positions. For projects initiated by a company, that don’t have academic merit, the work that the student does is NOT being used by the company, it is a subset of the skills related to work that is needed, and companies are using the subset of skills to identify capable student to hire outside of the platform.
Investor Taxation Benefits
BC investors are eligible for a tax credit of 30% of their investment, as Riipen qualifies as an Eligible Business Corporation.
mars 30, 2016
We launched our equity crowd-funding campaign on FrontFundr in early February as part of our larger seed round. Our goal was to raise $121,000 in 4 weeks. We were extremely excited and proud to announce that we had surpassed our target and are oversubscribed on our campaign. Due to this overwhelming success and the fact our EBC Tax Refund was approved for 2016, we've extended our campaign on FrontFundr until either April 15th or if we reach $200,000.
Other highlights since the campaign launch include:
When we launched our crowd-funding campaign we hosted a small networking event with a short investor style presentation about Riipen and a quick demo of the platform. This helped us get the campaign off the ground and we will be hosting a similar event at SFU Venture Labs brand new space in the Harbour Centre next Thursday April 7th at 6:00 pm.
If you are interested in attending please RSVP at https://www.picatic.com/riipenequitycrowdfunding.
If you can't make the event but want to learn more about the company or potentially investing please let me know.
Chiief Operatiing Offiicer - Riipen