Lateral Sparks, the weekly quiz from YourStory, tests your domain knowledge, business acumen, and lateral thinking skills (see the previous 120 editions here). In this 121st 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: Road safety
Countries with a poor record of road safety report high levels of accidents and fatalities. How can technology help provide physical and even financial safety here?
Q2: Market segments
Many startups address the B2C sector or SMEs. But there are lucrative opportunities in other segments as well. What are the investment options here?
Q3: A sweet tooth
People who have a sweet tooth find challenges in satisfying their palette if they have medical health conditions that cause them to gain excess weight. What’s a way out of this predicament?
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Q4: Startup funding
Startups can raise funding from sources such as angel investors and venture capital firms. Some savvy corporates also invest in startups. How would this work, and what makes this a win-win situation?
Q5: Athletic improvement
There are many devices and tools that help increase athletic strength and stamina. But improving agility and fast responses is another matter altogether. How can technology help here?
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: Road safety
Dashboard cameras or dash cams can provide a safety net—both legal and financial—in case of accidents. “Having driven in most parts of the world, I know how safety and security while driving is of paramount concern but in India that was badly lacking,” explains Vanesh Naidoo, Founder and Director at Safe Cams Digital Eye.
Safe Cams dash cameras are priced from Rs 3,599 to Rs 13,000 for private vehicle owners, with other rates for fleet owners. Read more here about how the company reported a revenue of Rs 28 lakh in FY23 via B2B collaborations for smart city projects, and partnerships with police departments.
A2: Market segments
Hyderabad-based venture capital firm Pavestone Capital backs tech startups that are creating products with global applicability. “We decided to look at a space where the market is not focusing on—what we call enterprise technologies,” Sridhar Rampalli, Managing Partner, Pavestone Capital, explains.
While many SaaS startups cater to SMEs, Pavestone has instead invested in companies like E42, NewSpace Research & Technologies, LivNSense and Bellatrix Aerospace that cater to large firms. Read more here about how these founders have deep domain expertise and the ability to build products, thanks to having spent more than a decade working in large technology firms.
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A3: A sweet tooth
Priyasha Saluja started The Cinnamon Kitchen in 2019 as a D2C brand offering gluten and preservative-free products like cookies, chips, cakes, and bread. The products are also refined sugar-free, and flour-free, and priced from Rs 350 to Rs 1,100.
Saluja has been selling these products through her website and other e-commerce platforms like Blinkit, Amazon, and Le Marche. Read more here about the journey of the startup, which has raised Rs 60 lakh from Aman Gupta, Founder of boAt.
A4: Startup funding
Pidilite Ventures, the corporate VC arm of adhesive chemicals firm Pidilite Industries, has been investing in startups since 2020. The company’s innovation agenda has been strengthened, thanks to its investments in startups like Livspace, HomeLane, Pepperfry, BuildNext, Aapka Painter, Imagimake, Onsite Teams, Finemake, Pace Robotics, and Kaarwan.
Addressing segments such as furniture, interior design, building construction, and painting, these startups consume the products and services of Pidilite Industries. “This is a good vehicle to access innovation in the startup ecosystem and focus on areas where we are traditionally involved,” says Sanket Parekh, Director, Pidilite Ventures. Read more about its approach here.
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A5: Athletic improvement
Founded by Hitarth Parikh and Chahil Patel, Ahmedabad-based Hyperlab has created a laser pointer to help athletes and fitness enthusiasts measure strength, reflexes, and stamina. They go beyond other devices that largely focus on developing strength, such as treadmills.
Priced from Rs 30,000 to Rs 45,000, the laser pointer prompts athletes to chase the light, and the athlete’s response time and precision are tracked. Read more here about how this device can also improve muscle coordination for elders and those recovering from injury.
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 Kanishk Singh
