IIT Graduate Exposes Harsh Realities of Startup Life After Leaving ₹28 LPA Job
IIT Grad leaves ₹28 LPA high-paying job for startup dream, invests ₹10–12 lakh and opens up about the reality no one talks about
The Economic TimesImage: The Economic Times
An IIT graduate who left a ₹28 lakh per annum job to pursue a startup has revealed the stark realities of India's startup ecosystem. He invested ₹10-12 lakh but found that success often hinges on connections rather than merit, urging caution for aspiring founders.
- 01The IIT graduate invested ₹10-12 lakh in his startup journey.
- 02He criticized the startup ecosystem for being driven by connections rather than merit.
- 03Many paid services for startups delivered little value, according to his experience.
- 04He advises potential founders to consider stable jobs for financial security.
- 05The post resonated with others facing similar challenges in the startup landscape.
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An IIT graduate, who left a lucrative job earning ₹28 lakh per annum (roughly $33,600 USD) to pursue his startup dream, shared his insights on the challenges within India's startup ecosystem. Over the past 11 months, he invested between ₹10-12 lakh (approximately $12,000-$14,500 USD) in product development, salaries, and fundraising efforts, only to find that many paid services provided little to no real value. He expressed frustration with the perception that the startup environment is meritocratic, stating that it often relies on connections and gatekeeping. The founder emphasized the importance of having a safety net, as many aspiring entrepreneurs lack the financial backup needed to navigate this challenging landscape. He now believes that for many, a stable job may offer better financial security than blindly chasing the startup dream. Despite the setbacks, he remains committed to building but is considering relocating to a more mature ecosystem like Silicon Valley for better opportunities. His post resonated with others, including another IIT graduate who shared similar experiences.
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This experience highlights the financial risks associated with pursuing entrepreneurship in India, particularly for those without a safety net.
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