Fastcast is a marketplace where talent seekers and talents meet in order to find or distribute jobs in the entertainment industry in the most innovative way. In essence it serves as both, an online brokerage for talents that are less known and as a store for modern talent searchers. Fastcast’s main goal is to use artificial intelligence to automate the recurring and everyday aspects of the talent acquisition process. This way it reduces bias and transforms management of the workforce in the film industry in particular. The CEO of Fastcast, David Halb, was a guest at INNOtalks, organised by ABC Accelerator. The event was carried out as a part of this year’s Innovation Festival festINNO 2019 at the Faculty of Management in Koper.
The Fastcast platform is mainly used by creative individuals. It has over almost 60,000 registered users, and in the next few years they expect this number to increase significantly, Halb said at the beginning. On this note, he added that the use of the platform is primarily aimed at individuals who wish to avoid expensive agencies, which usually collect a significant portion of their earnings. However, Halb’s platform is also suitable for smaller companies searching for appropriate personas for their projects, “for which otherwise thousands of euros would be spent“.
“Our platform has recieved a very positive response from the market. Already during the first few months after the launch of the platform, we recorded more than 3,000 concluded agreements, mostly for agreements that involve hiring individuals to record ads,” Halb stated, young entrepreneur and creator himself. Halb is also known to play in several music groups, which is, according to him, a winning combination of entrepreneurship and music creation.
“The best musicians are also strong entrepreneurs,” he remarked, and supported this by saying that their usual above-average earnings are also evidence of this.
“Music involvement requires a lot of management.” His first job as a student was drawing maps and followed by work in the advertising industry. At the same time, his music career progressed, so he ultimately combined all his skills in the Fastcast startup. His idea was always to create a collection of all kinds of jobs in one place, which would serve talent seekers as database of potential candidates.
Fastcast generates income with commissions and online subscriptions. However, this business model and the path to it can be very intense. Initially, 75,000 EUR was provided by private investors, funds were also obtained from the Enterprise Fund, and they participated also in the ABC Accelerator’s acceleration programme. It was at ABC where they received the support of mentors that was of most importance, according to Halb. ABC helped theFastcast team to perfect their pitch and continue their entrepreneurial success story. The investments they initially collected went primarily to fund IT development of the product.
Halb also stated that “the elimination of fear, whether it’s business or something else, is the most crucial thing for every individual,” and added “always stay creative!”.
For the past decade, at the Faculty of Management of Koper, the festival of innovation – festINNO – has fostered creative thinking, innovation, acquiring knowledge, experience, perseverance, freedom and entrepreneurship. This year, their participants had the opportunity of attending workshops, round tables, lectures, debates and presentations that took place on May 14th. This way they could listen to numerous domestic and foreign experts, experienced entrepreneurs and creative students alike. This year’s themes were virtual and enriched reality, 3D printing, intellectual property, trademarks, business models, social and sustainable entrepreneurship, legal aspects and traps of the World Wide Web, creativity and internationalization of business.