Startup Struggles and Career Paths

Hey Fellow Startuppers, I’m feeling somewhat disoriented at the moment because I have several possibilities for my future career. However, some of them don’t seem entirely satisfactory, and I’m not sure I have a full picture of all the available options. I’d like to reach out to you for advice and insights based on your experiences. Perhaps some of you can relate and share interesting perspectives. I’m in my mid-30s and plan to defend my PhD next year. Currently, I’m finalizing my dissertation on cryptologic topics, including Privacy-Enhancing Technologies (PETs), encryption security definitions, and Post-Quantum Cryptography (PQC). Two years ago, I began exploring the idea of a startup focused on PQC migration services, such as an automated CBOM discovery toolset. I even managed to motivate some of my colleagues to join as co-founders. Unfortunately, the team dissolved because my colleagues opted to work for large companies with stable, well-paying jobs—which I completely understand! However, the downside was that building such a tool required a deep understanding of different programming languages at a functional level. My skill set, as a cryptology specialist with expertise in cryptographic implementation and theoretical security, didn’t equip me to develop such a tool independently. I also found that other colleagues (from both industry and academia) weren’t interested in joining a venture, preferring to focus on completing their PhDs and pursuing other career aspirations. As a result, about a year ago, I shifted my focus to something I could manage on my own at a technological level. I started developing an encryption and processing service based on homomorphic encryption, which I have employed in several ongoing publicly funded research projects. I’m currently preparing a scientific publication on this work. I also partnered with someone knowledgeable in GDPR and legal matters—a complementary skill set for this venture. However, after six months of collaboration, I realized this person was unreliable and unpredictable. Following multiple red flags, I decided to part ways and proceed independently. Despite these challenges, the project shows promise. I am actively building the engine, and the business model is clear. However, I’ve encountered a significant hurdle: selling PETs to companies is exceedingly difficult. Only a small portion of companies prioritize privacy, largely because their customers don’t demand it. Many companies collect vast amounts of user data (e.g., geo-coordinates) without any plans to utilize it—practices that are not only legally dubious but also insecure. Data leaks could cost these companies heavily, yet they often remain indifferent. When I approach companies (e.g., CISOs) to discuss privacy and security, I feel like I’m hitting a wall. I currently have some leads for next year that might convert into paying customers, but I suspect my sales pitch is falling short. Earlier this year, I had two very promising leads, but when I proposed pilot collaborations, both stated they had more pressing issues and couldn’t commit—at least for the time being. This makes me wonder if I’m failing to convey the value of my proposition effectively. I’m convinced my solution offers a high ROI, but I’m unsure how to better articulate its merits. Overall, I’d describe my current state as “not good, not terrible.” The upcoming year might bring better outcomes. Encouragingly, some VCs have expressed interest in my idea. However, without any initial revenue—even modest—I worry that my valuation will be significantly lower. You might ask why I’m so concerned after just a few setbacks. The answer is that I’m juggling this venture alongside a full-time managerial role, which is becoming increasingly tedious. I feel like my technical expertise is slipping away the longer I continue in this role, which gives me an unsettling gut feeling. At this moment, I would be happy just to quit my job and work somewhere else. However, I’m sure that if it’s not a startup with some cryptographic aspects, I’ll end up facing the same gut feeling again. My plan for the next year is as follows: \- Continue pursuing the remaining leads and secure at least one paying customer by the end of May. \- Pitch my idea to startups with similar concepts and explore the possibility of joining them. \- Look for startups in need of a CTO with my skill set, even if it’s unrelated to my current idea. I would especially appreciate any advice on where to find such startups. If you have additional suggestions i would be very grateful to hear them. Thank you for reading :)