MXTX-Mississippi Executive Talent Exchange

It is an inevitable fact that startups will face technology risks, financing and cash flow risks, intellectual property risks, and the possibility of disruptive market innovations at some point. However, knowing how to arm your company to manage one of the most difficult problems, competitive risk, can save an emerging company a lot of money. That’s exactly the goal of the Mississippi Executive Talent Exchange (MXTX) – to be an affordable and robust alternative for emerging technology companies to find the executive level talent they need to take their great ideas, products and services to the next level.  

With all the critical risk factors to manage and so many moving parts to control, even the brightest entrepreneurs cannot have the answer to all the potential problems that can creep up. Ultimately this becomes a perplexing reality with an undeniable solution: hire the most talented employees who can manage the risks for you.  Someone has to keep the vision alive, know the terrain in detail, connect the pieces, work the plan, inspire, lead, reinvigorate, refocus … you get the point.  In other words, entrepreneurs who can demonstrate a plan to manage all the critical risk factors can give the venture capitalist looking to invest a reason to consider their company.  Hiring top-performing employees who understand how to manage challenges can only strengthen your pitch to investors and advance your presentation to the deal table. It may create more pieces to connect, but what are the alternatives?

MXTX- a connecting piece
The MXTX is a service of the Mississippi Technology Alliance (MTA) designed to help companies meet and build relationships with experienced managers who want to join Mississippi’s emerging technology companies.  Mississippi technology entrepreneurs face two major hurdles as they build their companies -  investment capital and management expertise.  MTA organized the Mississippi Angel Networksm in 2005 to help entrepreneurs locate investment capital, and now we are launching the Mississippi Executive Talent Exchange to assist these companies in experienced management talent.

Although these are two separate issues, they really go hand-in-hand for an early stage technology company.  Most investors say that they are fundamentally investing in people rather than a concept or technology.  However, early stage companies need funding to attract top talent to join their organizations.  It is a classic “chicken or egg” mystery for many entrepreneurs trying to build a company. 

Resource Refocus
Since a priority for MTA is helping build technology companies in Mississippi, we thought we should develop a solution to this major human capital issue.

The other major need driving the usefulness of MXTX is that MTA frequently receives resumes from Mississippians or those who wish to move back home to Mississippi and seek employment in a technology start-up company.  Unfortunately many of these people moved out of state after college, but are looking for an opportunity to move closer to home without sacrificing their career.  In addition there are many retirees moving into parts of the state who would make valuable additions to a management team or board of directors if they knew about such opportunities.  The MXTX will serve as a repository for screened resumes and profiles of qualified candidates for senior management positions for emerging Mississippi technology companies.

The responsibility to recruit superior talent is a role that cannot be overlooked.  Human Resource professionals and intermediaries are critical players, but someone, namely a CEO, must own the process.  In early 2006, a planning committee representing CEOs of emerging companies, a management recruiter and commercialization officers at four research universities was established to provide insight into the management needs of early stage companies within Mississippi.  The group agreed that an affordable process for screening and qualifying candidates and alerting companies about leads would be a beneficial means of keeping an entrepreneur’s commitment to building a top notch team
that is visible, systematic and persistent.   

Working the Plan
MTA plans to operate the MXTX as a part of its services to technology entrepreneurs.  An affordable annual fee is charged for Mississippi companies to post their company profiles and senior management openings.  These companies will receive password-protected access to the database into which candidate profiles and resumes will be deposited.  The MXTX website will be advertised through Mississippi university alumni association websites and magazines, trade publications, and other media.  MTA will also use social networks to actively pursue connections with executive talent. 

MTA is committed to providing resources and bringing focus to the needs of emerging Mississippi technology companies.  That is why the initial focus of the MXTX is on senior management positions.  However, if the process proves successful, expansion into more junior positions will be possible.  In the meantime, we invite all interested candidates and companies to visit www.technologyalliance.ms and click on the “MXTX – Executive Talent Exchange” tab or call 601-960-3625 and begin working with MTA to work through the screening process and upload a profile to the website. Companies can establish alerts to signal when a candidate enters the database with its desired industry and/or expertise criteria.

So let’s get busy creating wealth by growing technology companies and bringing home and keeping home some extremely talented individuals.  Welcome to the Mississippi Executive Talent Exchange – where emerging technology companies find experienced executive management talent.  

You may contact Shanda at sbarrett@technologyalliance.ms