CEO INTERVIEW: Neufast - Your Partner in Talent Assessment
New Success Stories - Neufast
AGNES WUN - CEO
Please share with us briefly what you do.
Neufast has developed a cutting-edge artificial intelligence video interviewing enterprise solution for candidate screening and competency assessment. Our B2C “NeuCareers” is supporting job seekers to prepare for AI video interviews and succeed in the job market by understanding their own personality and person-job fit. Our enterprise solution and NeuCareers support the hiring of English, Mandarin, and Cantonese speaking candidates.
What were you doing before this?
Before establishing Neufast in 2018, I have 12 years of corporate experience in workforce planning, corporate finance and software development for Fortune 500 and listed companies. I acted as a board observer in the capacity of International Business Manager at the board level of multi-millions energy and infrastructure companies of Cheung Kong Infrastructure (1038:HK) to review budgets and business plans including hiring plans across departments, workforce planning, KPI setting, remunerations, and bonus settings. I executed a successful US$200M IPO in HKEx and US$500M PE fund with VPower (1608.HK). I started my career in engineering tenders with ABB Singapore office as Marketing Engineer and iPhone app development with Accenture London office as an Associate Software Engineer.
I am a math geek with degrees in Electrical Engineering from the National University of Singapore and Applied Mathematics from Imperial College London. I co-founded Neufast after my MBA from HKUST/ Tsinghua School of Economics and Management. I am a Chartered Engineer with the UK Engineering Council and a CPA with CPA Australia.
Describe your product. How does it work?
Human psychology involves statistical analysis such as factor analysis to classify human traits. Here at Neufast, we work with our I/O psychologists to predict work performance as a pre-hiring talent assessment tool.
Our product is Software-as-a-Service (“SaaS”) online platform which digitizes the recruitment process to evaluate person-job fit scientifically. Our solution analyzes visual (facial expression), audio (tonality) and linguistic (choice of words) clues of interview videos to score job applicants’ competencies. Technologies used included computer vision, sentiment analysis and natural language processing for emotion, tonality and personality analysis. Companies can provide jobseekers feedback on their interview performance using our auto-generated individual reports. Companies receive a group report with statistical analysis for Learning & Development, Talent Development, and Employee Engagement.
What are the key benefits?
The key benefits of using our AI video interviewing system involve:
1. reducing time-to-hire by 50%,
3. Comprehensive assessment,
4. Consistent analysis,
5. engaging experience,
We match candidates with their perfect jobs and therefore boost their motivation, which will help companies to enhance their productivity in the long-term.
Another key benefit is facilitating remote hiring for critical positions during the current novel coronavirus situation. Various governments in Mainland China, Hong Kong, Macau, and Singapore are stepping up public health measures suggesting companies to apply work-from-home arrangements and enforcing compulsory home-quarantine. Many companies in the APAC region are talking to us about our enterprise solution.
Who are your closest competitors?
Our closest competitors are the US-based HireVue Inc, Amsterdam-based Seedlink and the Korea-based company, Genesis Lab. We are special as compared to them as we focus on Mandarin and Cantonese speakers besides English speaking Asians.
Who is your first customer and how did that happen? What were they using before this, and why did they switch?
Our first customer is a Macau hospitality group. They have not used any AI video interviewing enterprise solution before they knew Neufast.
What motivated you to start this business?
What motivated me is that mathematical models can be used to model human psychology to predict work performance as a pre-hiring talent assessment tool. Psychology is about classifying human traits statistically. Combining AI with psychology for scientific and unbiased talent assessment is our commitment.
What is your biggest sacrifice to make this work?
How did you get funded?
We are funded by the Hong Kong Science and Technology Parks Corporation (“HKSTP”) for our R&D and product development and SOSV Chinaccelerator for business growth in Shanghai, China.
What has been your most successful form of marketing?
My most successful form of marketing is through a business partnership with an APAC leading recruitment company for industries including retail, FMCG distributions, and beauty.
Describe a typical workday
As the CEO of Neufast, other than fundraising and investor relations, I am building our B2B pipeline with over 100 client contacts through pitching in startup events, demo days and roadshows. I am building business ventures and partnership relationships. I conduct customer interviews, deliver product demo, answer customers' queries, gather user feedback for product iteration, draft sales proposals, manage user on-boarding experience. On top of the above duties, I provide inputs to product design, system testing, finance, and hiring. In the early days of Neufast, I presented our business plan and secured HKSTP incubation funding, established the Company’s advisory board, acted as a scrum master and managed the UAT and cloud deployment and brought in SOSV as our first institutional investor.
Our MD & CTO, Dr. Dennis Lee, is developing client leads and partnerships in China as well as doing pre-sales user training. He leads our technical team for product design, product development, system testing, cloud deployment, and R&D. Dennis also work on fundraising and business operation
Who has been the greatest influence in your business and why?
Neufast is a team effort with my Co-founder, MD & CTO Dr. Dennis Lee for product design and project management, our Company Advisor Dr. Daniel Chan for Go-To-Market, Ms. Rebecca Lo for I/O Psychology and Senior Talent Management consulting, Mr. Delon Yau for his AI knowledge, and Dr. Anthony Wong for his 20 years in HR & Recruitment. Neufast is fortunate to have such a talented and experienced management term to bring Neufast to this stage of business growth. Our institutional investor William Bao Bean and Oscar Ramos from SOSV Chinaccelerator are the keys in helping us entering into China and developing our B2B enterprise business.
What has been your proudest moment in the history of your business and why?
The proudest moment in the history of my business was when we won the Star of Innovation for BASF Asia Pacific Mass Recruitment business challenge at AHK Innovation Nights organized by the German Chamber of Commerce in Hong Kong, October 2019. We were invited to pitch and emerged as the Finalist in AHK Shenzhen for the Finale in December 2019 in front of hundreds of senior executives and government officials from China and Germany. This led us to the iFlyTech Roadshow for the Most Innovative Award in December 2019.
What is your favourite business failure (and what did you learn from it)?
Not knowing your customers and their needs enough!
If you could go back in time to speak to your 20-year-old self, what would you tell him/her?
Understand my own personality and user NeuCareers to get comprehensive job analysis by job title and industry! This is also the main reason for me to create NeuCarees for the 20-year old.
More about Agnes :
- First job - My first job after my first degree was Electrical Engineer. I was responsible for managing a team of 5 electricians – workforce planning, assessing skill sets, work experience, attitude and competencies and designing key performance indicators. I acted as Project Manager to monitor the progress of the fabrication of control panels for on-time within-budget project delivery for our client.
- Last holiday - My last holiday was with my family four years ago in Okinawa.
- When you are not at work, where can we most likely find you? I work anywhere besides my offices. I am on WhatsApp, WeChat, LinkedIn, zoom call, Trello and Slack. When I am not at work, you will find me spending quality time with my family
For more information :
Visit Neufast to find out our AI video interviewing enterprise solution with a psychometric assessment.
For product demo, please email us at firstname.lastname@example.org.
For system integration and customization request, please email our MD & CTO Dr. Dennis Lee at email@example.com with your requirements
For job seekers, visit Neucareers to create your free candidate account and book our career coaches.