Lateral Sparks, the weekly quiz from YourStory, tests your domain knowledge, business acumen, and lateral thinking skills (see the previous edition here). In the 123rd 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: Logistics transformation
Many players in the logistics industry are still reliant on manual paperwork and traditional methods for managing shipments. This extensive and laborious documentation creates bottlenecks and inefficiencies. How can technology help here?
Q2: Online education
Success in online education requires mastery of the learners’ experience and superior content. Forming partnerships with educators and targeting students and professionals also helps. What else can help stay ahead in ed-tech?
Q3: Digital banking
For online banking to succeed, it must have intuitive interfaces for web and mobile users. Digitally-enabled processes should assist e-KYC, use of credit and debit card networks, and recurring payments. How else can technology move the needle here?
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Q4: Food delivery
Success in the online food delivery business requires relentless focus on optimising delivery routes, understanding shifting consumer preferences, and using predictive analytics. But there is more to the picture here than B2C success. What else can improve margins here?
Q5: Dating apps
Many users of dating apps find themselves endlessly swiping, or end up with unfulfilling interactions. Most apps present only pictures and brief profiles. How can this experience be improved, going beyond partner appearances?
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: Logistics transformation
Logistics startup Logicarts, founded by Gangadhar Reddy, has developed a range of digital models for transportation management, security and safety, and trip management systems. Its driver performance evaluation system helps ensure on-time deliveries amidst its expansive network
Reddy’s initial focus was tech modules for pincode segregation, route plans, and shipment allocation.
Read more here about how digital transformation can enabled seamless operations and optimal delivery outcomes in logistics.
A2: Online education
Mumbai-based Jaro Education, founded by Dr Sanjay Salunkhe, actively supports universities in launching educational programmes. It carries out market research, conceptualises industry-relevant content, and provides infrastructure for educators.
It also addresses the need for lifelong learning with a community-building platform for networking and information exchange between current learners and alumni.
Read more here about how Jaro leverages different learning modes and advanced learning tools.
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A3: Digital banking
Srikanth Nadhamuni, one of the architects of Aadhaar, has launched new-age banking solutions startup Trustt. Its AI-powered SaaS-based core banking platform helps consumers remit money, make payments, and harness banking and consumer-related products.
“In response to the complex landscape of lending, we integrated AI models plugged into the core banking system, providing real-time data for decision-making,” he explains.
Read more here about Trustt also leverages conversational UI for native language interactions.
A4: Food delivery
In addition to B2C offerings, Zomato launched its B2B restaurant supplies business Hyperpure to improve operations for its restaurant partners. It offers daily supplies like dairy, pulses, bakery items, and kitchen tools to restaurants at wholesale prices.
This helps drive higher engagement with restaurant partners and increase margins across the board.
Read more here about how Hyperpure is now Zomato’s second-largest vertical by revenue.
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A5: Dating apps
Vidya Madhavan and Abhinav Anurag founded meme-based dating app Schmooze in the US and later launched it in India as well. It avoids the roots of failed dating experiences by leveraging technology like AI.
Based on profile insights, Schmooze uses AI as an ice-breaker to help spark a conversation by telling pairs of users why it thinks they are compatible.
Read more here about how it predicts these characteristics powered by meme swipes users, and goes on to set up offline meetings as well.
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).
Edited by Swetha Kannan
