Lateral Sparks, the weekly quiz from YourStory, tests your domain knowledge, business acumen, and lateral thinking skills (see the previous edition here). In this 143rd 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.
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Q1: Interior design
Many small firms need help in their interior design journeys, but they face obstacles such as inefficiencies, miscommunication, and extended timelines in a fragmented industry. How can technology help here, and where is the entrepreneurship opportunity?
Q2: Creative writing
There is a lot of creative writing talent in children that deserves recognition beyond the walls of schools as well. How can such writing be encouraged, reviewed and rewarded?
Q3: Data and real estate
The real estate industry benefits a lot from data science and machine learning. Real-time and accurate information enables better risk assessment, operational efficiency, and agile responses to market changes. Where else can digital technology help this sector?
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Q4: International market expansion
Many B2B companies are keen to scale to the US. However, they face challenges in legal complexities, recruitment roadblocks, and financial management. How can these issues be tackled?
Q5: Water recycling
Climate change is worsening the water crisis in countries around the world. Conserving water is one approach to tackle this challenge. What sustainability methods can be applied to greywater and other such resources?
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: Interior design
Interior design firm Flipspaces has developed a suite of proprietary tech tools that streamline the interior design process, from conceptualisation to execution. This enhances, accuracy, speed, and alignment with the customer’s vision via a range of tools such as VIZWORLD for integrated workflow.
“Flipspaces also has a unique VR-enabled walkthrough that allows a client to visualise a space immersively through a digital walkthrough,” says Founder and CEO Kunal Sharma. Read more about its offerings here.
A2: Creative writing
Tanmayee Kalebar founded Stories by Children in 2020 to inspire creativity among children by encouraging habits of writing and reading. “Realising that many talented young writers lacked a platform to showcase their work, I decided to create one,” she says.
The platform aims to empower children aged between seven and 18 years, and encourage their love for storytelling by publishing them. Read more here about its club and contests for novel-writing, and its membership of over 1,000 students from around the world.
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A3: Data and real estate
“Developers can use big data to identify high-potential areas for investment by cross-referencing relevant data sets, such as infrastructure development plans and demographic trends,” explains Srinivasan Gopalan, Co-founder of Aris Infra Solutions.
“Further, it boosts property development by pinpointing land parcels for high-yield investments and tailoring amenities to resident needs,” he adds. Read more here about how insights drawn from big data may also help buyers choose the right insurance for their properties.
A4: International market expansion
FalconX is fostering the market entry of India-based B2B startups into the US market. It offers an immersive accelerator program, mentorship, investment, and a flagship technology day.
“It’s the entrepreneurial drive, the ability to listen and to be coachable that we at FalconX look for in the founders,” says BV Jagadeesh, Co-founder and Mentor at FalconX. Read more here about its virtual journey for cohort startups, followed by the last leg right in Silicon Valley.
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A5: Water recycling
In 2021, Prashant Sharma started the NGO named Positive Action for Child and Earth Foundation. It recycles greywater in schools, colleges and other organisations across six states in India.
“If greywater is treated separately, it would massively reduce the carbon footprint of sewage treatment plants, as they consume a lot of energy,” Sharma explains. Read more here about its initiatives like constructed wetlands that are built using natural filter materials like clay, moringa cake, wood shavings, and sand.
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).
