Lateral Sparks, the weekly quiz from YourStory, tests your domain knowledge, business acumen, and lateral thinking skills (see the previous edition here). In this 254th edition of the quiz, we present issues tackled by real-life entrepreneurs in their startup journeys.
What would you do if you were in their shoes? At the end of the quiz, you will find out what the entrepreneurs and innovators themselves actually did. Would you do things differently?
Check out YourStory’s Book Review section as well, with takeaways from over 355 titles on creativity and entrepreneurship, and our weekend PhotoSparks section on creativity in the arts.
Q1: Home appliances
Many consumers want kitchen products that are technologically advanced but designed around how Indian households cook. How can this opportunity be tapped?
Q2: Healthcare
Patients in remote villages who are under risk of heart attack face acute challenges in getting access to healthcare facilities. How can technology help here?
Q3: Financial inclusion
Many qualified but underserved entrepreneurs suffer challenges in getting access to financial resources. Where is the business opportunity here?
Q4: Advanced computing
Fields like drug discovery, materials science, manufacturing, logistics, and finance could do with computing resources that are far more powerful than currently available options. Where is the entrepreneurial opportunity here?
Q5: Personal care
The personal care market is evolving rapdily, with consumers seeking all-natural products they can trust for the whole family. How can this opportunity be tapped?
Answers!
Congratulations on having come this far! But there’s more to come – answers to these five questions (below), as well as links to articles with more details on the entrepreneurs’ solutions. Happy reading, happy learning – and happy creating!
A1: Home appliances
Founded by Eshwar K Vikas and Rakesh Patil, Beyond Appliances has conducted extensive research with Indian consumers. It has identified everyday challenges in Indian kitchens and translated those insights into unique products.
It has an omnichannel strategy with a retail presence in Delhi, Mumbai, Bengaluru and Hyderabad, and a manufacturing facility in Bengaluru. Read more here about its products such as Android chimneys, Plug-N-Play chimneys, smart hobs, and cooktops.
A2: Healthcare
Founded by Rajat Jain, Arpit Jain, Sabit Rawat, Nitin Chandola and Saurabh Badola, Spandan helps address gaps in timely cardiac assessment. Its devices reduce the care time after a heart attack, in private clinics, homes, and public-health systems.
It uses a smartphone to help detect a suspected heart attack, with results reviewed by remote doctors around the clock. Read more here about how frontline health workers capture an ECG using its platform for remote interpretation, and how around 60,000 devices have already been deployed.
A3: Financial inclusion
Founded by Dhruv Khaitan and Piyush Khaitan, MSME-focused digital lender NeoGrowth has developed a range of lending services. They include underwriting, portfolio monitoring, and risk management powered by proprietary AI.
It manages assets under management close to Rs 2,000 crore and has disbursed more than Rs 16,000 crore. Read more here about how it has raised a Rs 85 crore investment led by Dutch entrepreneurial development bank FMO.
A4: Advanced computing
Founded by Nagendra Nagaraja, QpiAI develops vertically-integrated quantum systems and AI platforms. They are used in areas such as drug discovery, materials science, manufacturing, logistics, and finance.
It has unveiled a 64-qubit processor, and aims to move quantum technology beyond experimentation and towards commercial use. Read more here about its recent fundraise from YourNest, SIDBI Venture Capital, Avataar Ventures, and the National Quantum Mission.
A5: Personal care
Founded by Swagatika Das and Gaurav Agarwal, Nat Habit is a an ayurvedic personal care brand. Its portfolio ranges across hair care, skin care, body care and baby care.
It combines traditional Ayurvedic principles with modern science through in-house R&D and manufacturing capabilities. Read more here about its fundraise from Trident Growth Partners, Bertelsmann India Investments, and Mirabilis Investment Trust.
YourStory has also published the pocketbook ‘Proverbs and Quotes for Entrepreneurs: A World of Inspiration for Startups’ as a creative and motivational guide for innovators.