lateral sparks, weekly quiz from your story, Test your domain knowledge, business acumen and lateral thinking skills (see previous post here). The 61st edition of this quiz presents problems that real entrepreneurs face on their startup journey.
What would you do if you were in their position? At the end of the quiz, you’ll find out what the entrepreneurs and innovators themselves have actually done. Do something else?
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Q1: Surgical assistance
Maintaining accuracy during surgery is a key concern for surgeons, and hospitals have a massive need for such skills as well. Some types of surgery are fairly routine and common. How and in what way can technology help in this situation?
Q2: Video speed and scale
The growth of video content for e-commerce is a major trend driving online retail, and digital games are booming as well. What technologies can expand the use of such media, and what impact will it have on other sectors?
Q3: First step
Finding a problem worth solving is the first step for any aspiring entrepreneur. The solution should also resonate with the needs of other potential customers. But startup launches are more than the focal point of the problem. What else is important at this stage?
Q4: Business success
Business success can be measured in terms of sustainable profits and customer satisfaction. Brand identity and investor interest are other indicators. But there are other success factors besides financial metrics. What are the factors of success?
Q5: Source of funding
Impact investment and government support are key to ensuring that social sectors thrive and environmental goals are met. Again, development agencies play an important role here. What are the key sources of funding to ensure that you meet your social and environmental goals?
Congratulations on coming this far! But there’s more, including answers to those five questions (below) and links to articles with more details on entrepreneurial solutions. Have fun reading, have fun learning, and have fun creating!
A1: Surgical aid
“Advancements in motion control technology have made surgical robots more precise. We help them achieve that level of accuracy and speed,” explains Vineet Aggarwal.
“Robotics is also being used in laboratories and hospitals for repetitive tasks, rehabilitation, physical therapy, and support for patients with long-term conditions,” he adds. Find out how the robot is pre-programmed to perform common orthopedic surgeries here.
A2: Video speed and scale
“With 5G driving the consumption of video content, live commerce will become more frequent, and e-commerce platforms will host more such sessions during the holiday season and normal business periods. ,” predicts Amit Relan, co-founder of mFilterIt.
“There is a consensus in the 5G community that cloud gaming is a direct opportunity for consumers in the 5G era,” he adds. Read more about his 5G impact on influencer activity here.
A3: First step
“To get into any business, it is very important that you like the business, know about it, and are passionate about it. It becomes difficult,” explains Ashish Anthony, co-founder of pet care startup JUSTDOGS.
When leaving his corporate job, Ashish pondered what to do next in terms of launching his own venture. He chose what he was good at, but it also had a gap in the market. It’s a pet product choice. Read more about the founder’s journey in the pet food and accessories space here.
A4: Business Success
“The impact that hinterland women entrepreneurs have had in hiring, training, and earning a living for other women in the region is, as we are often led to believe, that business success can only be measured in monetary terms. ,” explains Vishwajyoti Ghosh, co-author of WE Mean Business – 20 Women Entrepreneurs, 20 Stories.
Businesses have a wide range of impacts on the communities and environments in which they are located. The broader social and environmental ramifications of business, especially social enterprises, must also be considered. Read more about the stories of 20 entrepreneurs here.
A5: Source of funds
“CSR will play a key role in helping India achieve its Sustainable Development Goals (SDG) by 2030 and net zero emissions by 2070,” said MD and Chief Scientist at Hurun India. One Anas Rahman Junaid explains.
“The cohort of veteran and young tech entrepreneurs has the potential to play a key role in meeting the funding requirements of the country’s social sector,” he adds. Read more about the importance of altruism and philanthropy here.
YourStory also publishes a notebook “Maxims and Quotations for Entrepreneurs: A World of Inspiration for Startups” As a creative and motivational guide for innovators (you can download it as an app here: apple, android).