IIT Delhi Graduate Chooses Startup Path Over Placements (Image Source: LinkedIn)
For many science students, securing admission to the prestigious Indian Institutes of Technology (IITs) is akin to obtaining a golden ticket to lucrative career opportunities. While some aspire to secure high-paying jobs, others opt for further studies or pursue civil services examinations like the UPSC.
However, breaking away from the conventional path, there are those who dare to dream big and embark on the entrepreneurial journey. Meet Siddhant Jain, an alumnus of the esteemed IIT Delhi, Class of 2015, who epitomises this spirit of innovation and risk-taking.
After earning his engineering degree, Siddhant, along with his friend, ventured into the world of startups, establishing not one, but two companies. Currently, Jain leads a venture known as Vdocipher, boasting an impressive annual revenue rate of Rs 24 Crores or USD 3 Million.
In his entrepreneurial journey, Siddhant Jain’s maiden venture involved crafting pencils from newspaper waste, a commendable initiative aimed at promoting sustainability. The necessity for substantial physical infrastructure, coupled with the demands of being a full-time student, rendered it unfeasible to pursue further. This setback, did not deter Siddhant from his pursuit of another innovation.
Later on he started another startup with his friend Vibhav Sinha. VdoCipher, a pioneering force in secure video hosting solutions. VdoCipher’s mission lies a dedication to providing a robust video hosting solution tailored for online educators, course platforms, and media/OTT platforms. With a focus on ensuring secure and seamless playback experiences, the company employs cutting-edge features such as DRM encryption, user-based watermarking, and advanced analytics to combat misuse effectively.
For Siddhant Jain, achieving a revenue in crores for his company was far from a smooth ride. In the face of numerous challenges, Jain grappled with stagnant revenue standing at Rs 12 lacs per month, alongside consistent albeit manageable losses. This financial strain was palpable, with the company’s bank account holding a modest sum of just Rs 25 lacs in April 2018, supporting a lean team of five individuals. To navigate through these turbulent times, Jain leaned heavily on debt from investors, which served as a crucial lifeline for the company’s survival.
During his entrepreneurial journey, Jain found himself at a crossroads, where he took a personal loan of Rs 1.5 Lac from his father, a gesture he later repaid. Determined to overcome these challenges, Jain adopted a proactive approach, forging closer connections with customers. By immersing himself in workshops on sales and marketing and engaging in face-to-face interactions with diverse individuals, Jain sought to gain invaluable insights into customer needs and preferences.
Furthermore, Jain spearheaded a comprehensive overhaul of the company’s online marketing strategies and partnerships, a strategic move that bore fruit in the form of increased website traffic and lead generation. Through sheer determination and strategic acumen, Jain successfully steered his company through turbulent waters, emerging stronger and more resilient than ever before.
