Mrigank Tripathi, Founder,Voicetap Technologies

Today, the internet is an established medium for the dispersal of knowledge. However, its use by oneself does not form the most optimum means to gather information, as one has to search for the same, a process that is also time consuming.In this backdrop, Voicetap Technologies strives to create innovative solutions that help people use the medium of voice to gain knowledge. The firm’s flagship product provides knowledge seekers across the globe expert information via Voice over Internet Protocol, mobile phones and chatting.

“Voicetap Technologies’ solutions allow you to just pick up the phone to talk to an expert or chat online with one — without having to find one through the internet of your extended network. Just say the term, and you get connected to the expert,” says Mrigank Tripathi, the dynamic founder of Voicetap Technologies.

The inspiration for Voicetap came from Tripathi’s niece, who, after securing 88 per cent in her class 12 board examinations, was unable to find someone to consult regarding her future course of action. With 440 million people using mobile phones in India, the irony of the situation was not lost on this entrepreneur.

Tripathi was then working in strategy consulting. “The money was great, and the job, challenging. But it wasn’t a ‘creator’s’ job. I am a creator; I have the ability to create something of value for the world. I have burnt my bridges, and we are hitting the fences. When we succeed, the rewards will be much higher,” Tripathi says.

While setting up Voicetap Technologies, the challenge was in creating a business model that provides value to every stakeholder. “It took us eight months to fine-tune our model. Today, there are more than 15 companies and 500 individual experts who have signed up with us,” says Tripathi, who established Voicetap in February 2009, employing his own capital and also some from an angel investor, who committed a larger amount after validation of Voicetap’s model.The company currently focuses on four verticals — education, career, health and finance. As far as increasing the size and scope of its functions are concerned, there are three areas of focus: the number of verticals, number of users, and number of experts. “We are tying up with operators to allow users to access our services. We are taking companies, communities and individuals on board to increase the number of experts — currently around 1,700 — available on our platform. Also, we will increase the number of verticals as and when the requirement arises,” Tripathi says.

Voicetap’s business model is evolving, in a specific direction. “We have turned our model from ‘expert charges’ to ‘no one gets charged, but everyone benefits’,” says Tripathi. At his company, there are primarily two kinds of experts: those who are involved in specific businesses, and individuals who have previously worked in certain fields and are now experts in the same. “Our income is through small subscription fees and per-minute charges to access our services,” Tripathi says.

For Tripathi, an engineer who earned an MBA degree from INSEAD, the words of a wise entrepreneur come to mind: “Entrepreneurship is a marathon, not a sprint. Every entrepreneur fails and falls, but I believe the winner is the one who gets up, dusts off and keeps running.”He attributes his success to three characteristics: nimbleness, listening to people, and the ability to admit to making mistakes. “If we see something is not working, we figure out how to move around it very quickly. Here, every piece of feedback is valuable. An entrepreneur cannot afford to be like an ostrich, always with his or her head in the sand, believing the world is a good place and that everything is fine. We are always ready to accept a better idea,” Tripathi says.

“Focus on the customers: listen to them, sit with them. If they say something is wrong, it most probably is. If they say something else is requires, it most probably is,” he says.

The growth of Voicetap, currently with eight employees, has been good. “Our product has evolved and we have got a great team,” Tripathi says. His company received the Red Herring Asia Top 100 award recently and has also been nominated for the Red Herring Global Top 100 award. “For a firm that is only 10 months in operations, this is quite an achievement. The Red Herring award is a testimony to the vision and robustness of our technology and business model. In addition, our customers’ testimonials are what bring smiles to our faces,” Tripathi says.

While continuously driven by the possibility of creating something that can change the way the world accesses knowledge, Tripathi’s current aim is for his company to reach a level where its revenue it in the range of Rs3 crore per annum, with 40 employees and operations in at least three countries — a team that is focused on execution. Also, Voicetap is currently testing its product in beta mode, which has been receiving rave reviews.

“Our scope is global. From someone who wants to connect with a student or graduate of the Indian Institute of Technology for help in cracking the entrance test, a farmer who wants his son to know how to crack a sales interview, to someone in the US trying to figure our where he can undergo knee-replacement surgery — all can make use of our product,” Tripathi says.