AI, logistics, sustainability: Test your business creativity with Edition 182 of our weekly quiz!
This insightful feature from YourStory tests and strengthens your business acumen! Here are 5 questions to kick off this 182nd quiz. Ready?
Lateral Sparks, the weekly quiz from YourStory, tests your domain knowledge, business acumen, and lateral thinking skills (see the previous edition here). In this 182nd 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: Data and financial services
While consumer data is key to financial institutions, the process of sharing it remains inefficient due to fragmented and cumbersome processes. How can such limits to financial services be overcome?
Q2: Environmental impact
Cigarette stubs are a significant source of pollution across the world—an estimated 4.5 trillion stubs are discarded every year. How can this menace be tackled in a financially viable manner?
Q3: Adoption of sustainable energy
EVs and solar installations can be notable enablers of the move towards sustainable energy and reduced pollution. However, many aspiring adopters face financial challenges in deploying such solutions. How can this be solved?
Q4: Affordable healthcare
Many patients struggle to access consistent and affordable treatment for renal disease due to high costs and a limited number of facilities. How can this urgent problem be tackled?
Q5: Freight and logistics
The road freight transport industry, though key to a country’s logistics sector, remains highly inefficient due to the large number of trucks returning empty upon delivering goods. How can this revenue loss and wasted fuel be tackled?
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: Data and financial services
Founded by Keshav Reddy and Rajeev Ranjan, Equal is an identity verification aggregator for banks and fintechs. “By streamlining data exchange, we aim to drive financial inclusion, enhance accessibility, and unlock new growth opportunities for businesses and individuals alike,” Reddy says.
Its aggregator connects with over 50 ID databases and 4,000+ API providers, enabling businesses to verify identities quickly and accurately. Read more here about its speedier verification time and fraud reduction, and its lineup of clients such as WeWork, Larsen & Toubro, and TVS.
A2: Environmental impact
Launched by Naman Gupta and his brother Vipul Gupta, B2B company Code Effort recycles cigarette butt waste for commercial purposes. It supplies paper, stationery, gift items, and textiles from over five million recycled cigarette stubs a day.
It has over 200,000 bins for waste collection, and works with over 2,500 rag pickers. Read more here about its international plans for Malaysia, Nepal and Bangladesh.
A3: Adoption of sustainable energy
Green financing by companies like Ecofy Finance can help address bottlenecks that hinder the goals of net-zero emissions. “By combining innovative financing models with a strong commitment to sustainability, we aim to enable access to electric vehicles and rooftop solar,” says Vivek Khandelwal, Ecofy’s Treasury Head.
It has received support from Denmark’s Investment Fund for Developing Countries (IFU) to expand its loan portfolio for electric two- and three-wheelers and rooftop solar systems. Read more here about how “last-mile” climate funding for consumers, small businesses, and transport operators can overcome gaps faced in traditional credit channels.
A4: Affordable healthcare
Founded by Aseem Garg, DCDC Health Services operates over 200 dialysis centers across India, catering to patients through public-private partnerships (PPP) and standalone company-owned clinics. It recently secured an investment of Rs 150 crore from Singapore-based ABC Impact.
It also plans to expand beyond India and offer affordable, high-quality dialysis services, particularly benefiting patients with end-stage renal disease (ESRD). Read more here about how this initiative aligns with the objectives of national healthcare schemes for lower-income populations.
A5: Freight and logistics
Founded by Sarthak Elwadhi and Aviraj Chadha, TrucksUp uses AI-driven algorithms to connect truckers with shippers in real-time. “Our system learns from historical data, optimising matches based on pricing, load type, and distance,” Elwadhi explains.
The platform has onboarded 215,000+ truckers and logistics companies, including 175,000 registered truck owners managing multiple trucks. Read more here about how this platform could enable truckers to earn up to 20% more per trip, while shippers could reduce logistics costs by 15%.
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