Bootstrapping an AI Chatbot Startup with a Paycheck: Ankush Sabharwal, CEO of CoRover (Part 1)

It took Ankush and his cofounders two years to launch their first customer, The Indian Railways. During this time, the founders held on to their jobs, diligently fulfilling their responsibilities while also pursuing their dreams.

Sramana Mitra: Let’s go to the very beginning of your journey. Where are you from? Where were you born and raised? What kind of background?

Ankush Sabharwal: I come from a remote district in India in the extreme north – Rajouri. I was brought up there. My family moved to Jammu. I did schooling there. For Masters, I’ve done Software Engineering.

Sramana Mitra: Undergraduate, you did in Jammu as well?

Ankush Sabharwal: That’s correct.

Sramana Mitra: Engineering college in Jammu?

Ankush Sabharwal: It’s Jammu University. I did Bachelors in Computer Education. I was doing MCA. MCA is very popular in India. I got selected into a very unique program with Wipro in 2004. The program was we would be working as software engineers plus we would be studying a four-year program. It’s equivalent to a MSc in Software Engineering. It was for four years.

Sramana Mitra: What years were these?

Ankush Sabharwal: 2004 to 2008.

Sramana Mitra: Then in 2008 when you finished this program, did you go back to work full-time?

Ankush Sabharwal: I got an offer from Wipro. I also got an offer from Finistra. Finistra provides software to top hundred banks in the world. I chose to join Finistra. After four and a half years in Wipro, I learned a lot, but I wanted to see a different kind of work culture. Wipro is more of a software service company. In fact, Finistra is one of our clients. I was with them for five years. With Wipro, I traveled extensively in the US. I worked in the US in Cleveland and New York.

Sramana Mitra: The expertise you were developing was in the banking domain.

Ankush Sabharwal: Right. Throughout my corporate experience, I was in the BFSI vertical. Finistra was also banking. I made a couple more switches to other companies. They were also in fintech or banking.

Sramana Mitra: What year did you leave Finistra?

Ankush Sabharwal: 2012.

Sramana Mitra: Where did you go?

Ankush Sabharwal: Altisource. Altisource is a fintech company. They provide software to service loans and mortgages. One of their products is Hubzu. It’s a real estate marketplace. They also do auctions for buying and selling of homes, but their primary work was to service banks. They had a few patented workflows to identify early bankruptcy and make the right decisions at the right time.

Sramana Mitra: When did you start CoRover?

Ankush Sabharwal: I started in 2016. I was part-time in CoRover.

Sramana Mitra: We have developed a methodology based on case studies. We heard from so many entrepreneurs who have done that successfully – bootstrapping with a paycheck. We actively support entrepreneurs who are trying to keep their jobs but starting a startup on the side and then gradually quit. I would like to hear more about how you did that.

Ankush Sabharwal: I know the risk has to be taken but not for the sake of it.

Sramana Mitra: Risks have to be taken, but bills have to be paid.

Ankush Sabharwal: Absolutely. I saved one-fourth of my salary for the startup. I already had around 15 to 16 years of experience. I was okay in my corporate life.

Sramana Mitra: You were in Bangalore?

Ankush Sabharwal: Yes, I was in Bangalore.

This segment is part 1 in the series : Bootstrapping an AI Chatbot Startup with a Paycheck: Ankush Sabharwal, CEO of CoRover
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