Lateral Sparks, the weekly quiz from YourStory, tests your domain knowledge, business acumen, and lateral thinking skills (see the previous edition here). In this 77th 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: Healthtech frontiers
Within the domain of healthcare, rehabilitation helps patients recover from physical or mental conditions. This includes a range of therapeutic interventions to improve mobility, strength and independence. How can digital technology help here?
Q2: Aspirations and needs
Students and young professionals have often had to put up with meagre living conditions that barely cover basic amenities. But millennials’ aspiration for luxury and sophistication remains undiminished. What new business models can be architected that meet their aspirations as well as budgets?
Q3: Digital empowerment
Many countries have legal and social restrictions that prevent women from owning property, receiving inheritances, or opening bank accounts. Female participation in the labour force trails male participation as well. How can digital technology help here?
Q4: Evolution of messaging
The journey of SMS began in 1992, but was majorly disrupted by the rise of smartphone messaging from 2010 onwards. The use of SMS for personal messaging has relatively fallen, but SMS continues to be widely used in some contexts. What business use cases and opportunities lie here?
Q5: Affordable housing
Affordable housing continues to be a challenge for marginalised and low-income communities. Government schemes help here, as well as the use of low-cost upcycled materials. What’s another approach that could work here, which also adds an element of dignity to the dwellers?
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: Healthtech frontiers
“In recent years, technology has been effectively applied in rehabilitation, providing customised, efficient, and effective solutions for patients. Virtual reality, for instance, can simulate real-life situations, allowing patients to refine skills in safe and controlled environments,” explains Vivek Srivastava, Co-founder and CEO, HCAH.
For example, stroke patients have leveraged VR to relearn movement and coordination, improve balance and spatial awareness, and boost confidence. Read more here about a range of other tech-enabled innovations like robotics-powered exoskeletons for those recovering from spinal cord injuries.
A2: Aspirations and needs
“From being traditionally restrictive bachelor pad hostels or even PG accommodations that served the purpose of board and lodging, the new co-living spaces provide an unprecedented level of sophistication and luxury to millennial living,” observes Deepak Anand, Co-founder of Housr.
The experience, accessibility, and convenience of a well-managed space effectively meets their needs. “With growing disposable incomes, consumers don’t want to compromise on comfort or luxuries, and modern co-living spaces can meet this demand,” he explains. Read more about co-living market trends and opportunities here.
A3: Digital empowerment
“Using digital technology, it is possible to narrow gender gaps by enhancing access to welfare services, identification (ID), and financial services and information,” explains Madhura Moulik, CEO and Co-founder, Skilfinity.
She cites the example of the Arogya Sakhi programme of NGO Swayam Shikshan Prayog, which enables women to become health entrepreneurs providing antenatal and infant care through a mobile application. Read more about digital empowerment of women here.
A4: Evolution of messaging
“We send over 5 billion SMS every month to cater to the transactional and promotional needs of our clients,” explains Gurmukh Singh, Chief Operating Officer, ValueFirst. The company launched as a CPaaS startup 20 years ago, starting with SMS and now embracing WhatsApp as well.
The enterprise communication platform provider powers over 60 billion SMS-driven interactions each year. Read more here about how businesses use SMS as a communication tool to engage customers, employees, and partners.
A5: Affordable housing
Community Design Agency (CDA) design studio, founded in 2016 by Sandhya Naidu Janardhan, works with marginalised communities and helps them design living quarters according to their needs. It gives equal stakeholdership to dwellers in the designing and construction process.
“Everyone has the right to a dignified space, and we are empowering residents by making them equal stakeholders in creating a better living environment,” she affirms. Read more here about how such tailored design includes access to water, sanitation facilities, art, and plants.
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).
