Lateral Sparks, the weekly quiz from YourStory, tests your domain knowledge, business acumen, and lateral thinking skills (see the previous edition here). In this 108th 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.
.thumbnailWrapper
width:6.62rem !important;
.alsoReadTitleImage
min-width: 81px !important;
min-height: 81px !important;
.alsoReadMainTitleText
font-size: 14px !important;
line-height: 20px !important;
.alsoReadHeadText
font-size: 24px !important;
line-height: 20px !important;
Q1: Agricultural efficiency
Many agricultural value chains suffer from problems in food quality, farmer engagement, transparency, and traceability. How can technology help here, and what is the entrepreneurial opportunity?
Q2: The next appstore
The leading appstores require mandatory email sign-ins. The sign-in process is not available in a number of languages. How can these challenges be tackled in emerging markets, so that app developers and users have a democratised experience?
Q3: Product and service innovation
For market success, startups need to offer products that are innovative, affordable, and accessible for everyone. The services need to be functional and intuitive. What megatrend should also be factored into such design?
.thumbnailWrapper
width:6.62rem !important;
.alsoReadTitleImage
min-width: 81px !important;
min-height: 81px !important;
.alsoReadMainTitleText
font-size: 14px !important;
line-height: 20px !important;
.alsoReadHeadText
font-size: 24px !important;
line-height: 20px !important;
Q4: Online content for children
Many people struggle with information overload and screen addiction–and such concerns are particularly alarming in the case of children. How can the digital experience be improved so that children do not lose their imagination, creativity and attention spans?
Q5: Startup funding
Entrepreneurs need funds to kick off the initial version of their ventures, which can come from their own savings or financial support from friends and family. Angel investors and venture capital firms come in at later stages. What are some other sources of funding for startups?
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: Agricultural efficiency
Gurugram-based Otipy, founded by Varun Khurana in 2020, is a community-based agritech platform that connects consumers, resellers and farmers. It brings fresh produce to consumers’ doorsteps within 12 hours, using AI to anticipate demand and minimise food wastage.
“We focus on direct procurement from farmers based on demand predictions. This eliminates intermediaries, ensuring fair payments and empowering the farming community,” Khurana says. Read more here about Otipy’s journey in connecting 20,000 small farmers, 100 farmer producer organisations, and 1,000 resellers to move 160 tonnes of fresh produce every day.
A2: The next appstore
At TechSparks 2023, Sameer Nigam, Co-founder and CEO of PhonePe, introduced the company’s most recent offering, the Indus Appstore. It is positioned as India’s solution to the demand for a genuinely localised app experience.
An estimated 20% of Indians still do not possess an email ID, and nine out of 10 Indian internet users prefer non-English languages. Read more here about how Indus Appstore has promised zero percent commission for all in-app purchases, log-in capability with phone numbers, and content in 12 Indian languages.
.thumbnailWrapper
width:6.62rem !important;
.alsoReadTitleImage
min-width: 81px !important;
min-height: 81px !important;
.alsoReadMainTitleText
font-size: 14px !important;
line-height: 20px !important;
.alsoReadHeadText
font-size: 24px !important;
line-height: 20px !important;
A3: Product and service innovation
Global climate change is a major driver for startups and large firms to embrace sustainability in their offerings. “India offers a fantastic combination of really challenging conditions and also the world’s best engineering minds solving for sustainability,” explains Anjalli Ravi Kumar, Chief Sustainability Officer, Zomato.
To tackle emissions during last-mile deliveries, Zomato has collaborated with SUN Mobility to provide 50,000 electric two-wheelers to delivery partners, thus enabling climate-conscious deliveries. Read more here about how Zomato is planning to go net zero by 2030 and has committed to 100 per cent EV adoption by 2030.
A4: Online content for children
Started by two mothers—Neha Sharma and Sowmya Jagannath—in 2022, audio OTT platform Vobble has over 1,000 minutes of content available for children. Targeted at kids aged 4-10, it offers audio stories, game shows, music, and activities.
“The idea of this product is to shift children’s focus from screen to sound and stimulate their imagination and creativity,” Sharma says. It also helps increase their attention span. Read more here about the company’s content offerings, parental control features, funding journey, and family feedback.
.thumbnailWrapper
width:6.62rem !important;
.alsoReadTitleImage
min-width: 81px !important;
min-height: 81px !important;
.alsoReadMainTitleText
font-size: 14px !important;
line-height: 20px !important;
.alsoReadHeadText
font-size: 24px !important;
line-height: 20px !important;
A5: Startup funding
Crowdfunding has emerged around the world as a viable option for entrepreneurs to raise capital for their nascent ventures. Examples include Kickstarter and AngelList as well as Mightycause for non-profits, GoFundMe for individuals, and Patreon for creative professionals.
In addition to raising funds, a well-executed crowdfunding campaign generates buzz around the company and draws in potential customers and partners. Read more here about the different types of crowdfunding, such as Donation Crowdfunding, Debt Crowdfunding, Equity Crowdfunding, and Rewards Crowdfunding.
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 (downloadable as apps here: Apple, Android).
