Leaving College at 22 to Launch a Venture: Eric Chen's Journey to Securing Over $50 Million and Attracting Mark Cuban's Investment

Growing up surrounded by innovation and entrepreneurship in the Bay Area, the idea of setting up my own business felt quite natural.

In 2018, I made my entrepreneurial debut with Injective, a blockchain network dedicated to providing essential infrastructure for financial applications.

Our efforts have successfully attracted more than $50 million in funding, including support from Mark Cuban. By 2020, I left college at the age of 22 to dedicate myself entirely to this venture, proving to be the most strategic decision for my career.

Discovering a Different Path

My journey began at NYU in 2016 when I enrolled to study business with a secondary focus on computer science, with aspirations of entering the finance or tech sectors.

Quickly, it became apparent that my true interests lay elsewhere. Rather than pursuing the conventional career trajectory, I wanted to identify my true passions and excel in those areas.

The subject of blockchain captivated me during my academic explorations, allowing me to engage deeply with it without losing interest. Initially planning to encounter cryptography much later in my studies, I took the initiative to learn about it through participation in Ph.D. reading groups and research labs.

By late 2017, my part-time work with a venture investing fund in New York had expanded my industry insight. By the following summer, I was working full-time and contemplating a break from academia to fully dive into the blockchain finance sector.

Founding Injective and Stepping Away from College

The accumulated knowledge from my industry experience was instrumental in shaping the concept behind Injective.

I recognized a significant flaw in the industry—decentralized crypto exchanges struggled with performance, particularly speed, and I aimed to develop a solution that matched the efficiency of traditional finance, but decentralized.

With the sector being in its early stages, it presented a rare chance for individuals like me, lacking traditional credentials, to contribute meaningfully. Come fall 2018, I officially paused my education to start Injective, collaborating with a cofounder to distribute the load of research and development tasks. We swiftly built our team to expedite the creation of our exchange platform.

In navigating the challenges of company operations and investor persuasion, I sought guidance from industry peers, including my former colleagues, while also independently problem-solving due to the nascent nature of the field.

Overcoming Initial Hurdles

We underestimated the engineering complexities involved in constructing a substantial exchange infrastructure with a relatively inexperienced team. Our iterative development of the product extended over two years.

Without substantial capital reserves, accelerating development was tough, further complicated by investors' skepticism about the potential of decentralized exchanges. The lack of formal education and extensive experience likely contributed to this challenge.

By maintaining a frugal approach, we sustained our operations until the industry's surge in 2020 presented an invaluable opportunity. This boom enabled us to secure initial investment, marking a turning point for our growth.

Securing Investment from Mark Cuban

Our initial contact with Mark Cuban occurred when our business leader heard him speak at Harvard, during which he encouraged pitches via email.

Inspired by recent events, such as the GameStop incident, which highlighted the limitations of centralized platforms like Robinhood, we conveyed our vision of an unrestricted platform in our pitch. Our pitch sparked a continued dialogue that eventually led to Cuban's investment.

By maintaining honesty about our product capabilities, refraining from over-promising, we managed to raise more than $50 million in total.

Reflecting on the Journey

Navigating the early years post-college withdrawal was among the toughest periods of my life, characterized by relentless work pressures.

Despite my experience in academia, the pursuit of alternate opportunities felt more promising than being confined to a traditional path.

Had I delayed my venture into this budding field by a few years, the landscape would have shifted drastically. This urgency propelled me into action, reinforcing the belief that seizing a passionate opportunity is crucial.