Efficiency, lifespan, environment: test your business creativity with Edition 245 of our weekly quiz!
This insightful feature from YourStory tests and strengthens your business acumen! Here are 5 questions to kick off this 245th 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 245th 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: Recycling glass
The glass recycling chain involves an informal community of collectors and aggregators, but does not have accurate sourcing data. How can this gap be met so that brands can show they have met recycling targets?
Q2: Age and lifestyle
Many people give up active lifestyles once they turn 60, and are dismissed as ‘senior citizens’. How can they be effectively supported to carry on physical, mental and social activities?
Q3: Satellite lifespan
Many geostationary satellites have generated enormous revenues but are retired simply because they run out of fuel. Where is the entrepreneurial opportunity here?
Q4: EV efficiency
EV drivers who earn by the trip lose money every minute they spend on charging instead of driving. How can efficiency and run time be improved here?
Q5: Lending for growth
Traditional lending to MSMEs often relies heavily on collateral and rigid historical data, leaving out many companies who may be credit-worthy. How can this gap 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: Recycling glass
Founded by Iwan Richard, Karthik Sankar, Varun Pandithurai and Mohammad Mohiyeddin, Reneonix is building circular materials infrastructure for the packaging industry. It covers collection, sorting, processing, logistics, and reporting for a brand or manufacturer.
It returns both the glass material and the paperwork that goes with it. Read more here about its AI-led sorting of incoming glass, traceability framework, and conversion methods to create specification-grade raw material.
A2: Age and lifestyle
Founded by Deval Delivala and Ashwini Kapila, WalkAbout India is a dedicated community platform for active adults aged 55 and above. ““All our experiences cater to learning, finding purpose, and helping older adults live a better life,” Delivala says.
It offers reskilling classes to teach active agers how to create impact in life, and runs an accelerator programme for those who want to start a business venture. Read more here about how it also helps people pursue their hobbies via classes in music, dance, poetry writing, art, and craft.
A3: Satellite lifespan
Founded by Jay Panchal, Nithyaa Giri, and Hrishit Tambi, Aule Space helps satellite operators extend operational life of existing satellites and avoid launching entirely new satellites. Its ‘jetpack satellite’ is a spacecraft that docks with the satellite and provides propulsion.
The on-orbit satellite servicing market is projected to reach about $5.5 billion by 2030. Read more here about how Aule eventually plans to get into extraterrestrial robotics and then asteroid mining by 2050.
A4: EV efficiency
Founded by Sanskar Modi, SunCharge Motors puts solar panels on three-wheeler EVs so that they generate part of the energy needed right while they are being driven. It helps address some of the challenges in finding accessible charging infrastructure and reliable power supply.
The product is designed for commercial fleets, whose economics rest on hours worked per day rather than on purchase price alone. Read more here about the startup’s battery management system and real-time energy controls, and its recent fundraise led by the JITO Incubation and Innovation Foundation.
A5: Lending for growth
Founded by Bhavik Vasa, GetVantage is a B2B fintech platform for MSMEs that offers a full suite of cash-flow-based financing, term loans, business loans, and merchant cash advances. It is specifically tailored to small businesses’ operating cycles.
“The next decade of India's growth relies on unlocking credit for millions of MSMEs,” observes investor Rajeev Ahuja, former MD of RBL Bank. Read more here about the startup’s API capabilities that enable B2B ecommerce platforms embed financing options directly into their merchant ecosystems.
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.