Lateral Sparks, the weekly quiz from YourStory, tests your domain knowledge, business acumen, and lateral thinking skills (see the previous edition here). In this 83rd 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: ChatGPT for SMEs
Much has been written about generative AI and its impact on enterprises and workforces. A number of small and medium enterprises (SMEs) are also creatively using ChatGPT. What are some use case scenarios and impacts here?
Q2: Affordable devices
Bringing down the cost of components can help reduce the cost of electronic devices like smartphones and laptops. Offering payment options in instalments is another way to make such devices easier to pay for. How else can tech devices be made more affordable?
Q3: Creative health solutions
Patients of disorders like Parkinson’s suffer from a number of problems such as balance and coordination. There is also a lot of stigma around the disorder. What’s a creative way of addressing such concerns?
Q4: Maps: location and more
Real-time tracking has transformed the maps industry by enabling a range of applications for navigation, logistics and ride-sharing. What are some other ways in which maps are being transformed by innovative technologies?
Q5: Art and more
There is a resurgence of demand for artworks based on local culture like folk art. Direct sales channels and exhibitions are some ways of scaling such businesses. What’s another way of making folk art more visible and popular?
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: ChatGPT for SMEs
Planning social media campaigns and drafting emails are some uses of ChatGPT for small and medium enterprises (SMEs), as shown by Stuti Gupta, Principal of Brand and Vision at Amrutam. These tasks, aided by some human interventions, are now completed at a fraction of the time they used to take earlier.
Avimee Herbal uses ChatGPT to partially automate the creation of Instagram reels. Read more here about the use of AI by SMEs to automate tasks, gain customer insights, and engage with customers.
A2: Affordable devices
ReFit Global, launched by Saket Saurav and Avneet Singh in 2017, is focused on accelerating the refurbished tech market. The founders saw huge potential for second-hand devices, especially in smaller cities.
ReFit has its own Mobile Diagnostics Application through which it diagnoses devices on 37 quality check parameters, according to Saket. Read more here about how the bootstrapped startup generated revenue of Rs 200 crore in FY 2022-23, and aims to reach Rs 350 Crore in FY24.
A3: Creative health solutions
Pune-based choreographer Hrishikesh Pawar launched The Hrishikesh Centre for Contemporary Dance to offer dance classes to Parkinson’s patients. This helps them improve balance, flexibility, and coordination.
“This dance class focuses on building the confidence of people with Parkinson’s by normalising their health condition. It aims at community building so that these people have a sense of belonging along with helping them in improving balance and coordination,” says Pawar. Read more about his inspiring story here.
A4: Maps: location and more
Thanks to AR, personalisation, and data visualisation, maps are acquiring new functionalities beyond two-dimensional navigation. “Interactive design is becoming increasingly popular in map design, with designers exploring new ways to create immersive experiences,” explains Gokul Krishnan, VP of UI/UX and Design at SaaS company Near.
“Personalisation can include customised routes, landmarks, and places of interest based on the user’s preferences,” he adds. Read more here about how AI and ML are transforming the way maps are customised to individual needs.
A5: Art and more
Founded by Suman Sonthalia, Aakriti Art creates a fusion of regional arts to make functional products like furniture, handicrafts, home décor and utility items, and jewellery. Suman realised early on that the demand for just artworks was not high, so she decided to combine art with utility.
The products are priced from Rs 100 to Rs 3 lakh, and are based on art forms like Warli, Madhubani, Dhokra, Pattachitra, Kalamkari, Mandana, and Gond. Read more here about its journey and its B2B clients such as Pepperfry, Fabindia, and Shoppers Stop.
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).
