Lateral Sparks, the weekly quiz from YourStory, tests your domain knowledge, business acumen, and lateral thinking skills (see the previous edition here). In this 164th 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: The crafts business
Many artisans and crafts professionals struggle to scale. They are focused more on their creativity and less on raising money. How can such professionals be helped in their business?
Q2: Waste management
A large amount of waste ends up in landfills or is dumped in oceans, causing serious environmental damage. How can this issue be tackled while also generating revenue?
Q3: AI and workflow
Many businesses are using five or six generic AI tools to complete a single task. This can lead to some inefficiencies in workflow. How can such processes be improved?
Q4: Social entrepreneurship
Social enterprises require more time and effort to generate sustained impact. Traditional funding models often fail to meet these constraints. How can investment approaches be tailored to meet the unique needs of social entrepreneurs?
Q5: Glass transformation
Business innovation includes converting stable everyday items into objects that go beyond basic functionality to desirability. How could this work with materials like glass?
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: The crafts business
Founded by Priya Krishnamoorthy, 200 Million Artisans is a platform to empower craft-led enterprises through knowledge, networks, and capital. It hosts annual editions of its Kula Conclave to bring together changemakers and facilitate partnerships between creative-cultural businesses, investors, and policymakers.
The networking forum bridges the gap between inclusive capital and networking in creative-cultural and craft-led brands, social businesses, and startups. Read more here about how she has roped in investors like Artha Impact, Beyond Capital Ventures, HCL Foundation, Upaya Social Ventures, Tata Trusts, and GetVantage.
A2: Waste management
Founded by Rahul Nainani and Gurashish Singh Sahni, ReCircle diverts waste away from landfills and oceans by digitising waste supply chains and monetising their data. Its ClimaOne solution connects waste aggregators and collectors to recyclers and processors.
It offers data on where the waste was collected, how much was procured, and what value it holds. Read more here about how it sells this data to clients such as Unilever, Coca-Cola, and Nestle, in the form of credits to meet ESG goals.
A3: AI and workflow
Founded by Gayatri Agrawal, ALTRD crafts tailored AI tools for businesses that match the needs of their workflow. “I saw a gap where businesses were using five or six generic tools to complete one task,” she explains.
Its bespoke AI tools for businesses range from retail recommendation bots to tech-driven marketing campaigns. Read more here about how ALTRD has already worked with over 35 brands in its first year.
A4: Social entrepreneurship
“A patient capital approach offers social enterprises the essential time and resources to grow sustainably, fostering innovation and community impact without the relentless pressure of immediate financial returns,” observes Vipul Nath Jindal, CEO and Managing Director of Next Bharat Ventures.
“The ultimate goal of patient capital is to nurture what we refer to as ‘elephant entrepreneurs.’ Like elephants, these entrepreneurs grow steadily and are resilient to economic fluctuations,” he adds. Read more here about how 10-year cycles are emerging as a standard funding timeline for founders in order to focus on organic development.
A5: Glass transformation
Founded by Kushal Choukhany, Anshul Choukhany, and Yash Agarwal, Glassafe is a Bengaluru-based glassware brand. It aims to transform ordinary glass products into extraordinary lifestyle essentials.
“We’re not just offering glassware; we’re becoming a part of your story—whether it’s a conversation starter at gatherings, a choice for healthier living with the shift from single-use plastic to glass, or a step in upgrading from the ordinary to the extraordinary,” Anshul says. Read more here about how Glasafe achieved an ARR of Rs 25 crore within just six months of launch, a testament to the market’s response.
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).
