Lateral Sparks, the weekly quiz from YourStory, tests your domain knowledge, business acumen, and lateral thinking skills (see the previous edition here). In this 226th 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 Reviewsection as well, with takeaways from over 355 titles on creativity and entrepreneurship, and our weekend PhotoSparkssection on creativity in the arts.
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Q1: Health insurance
Many employees face challenges with insurance reimbursement for healthcare claims. They can be painful to submit and involve lengthy times for discharge or payment. How can this be fixed?
Q2: Profession services
Professional services teams and firms face a fundamental challenge in scaling their impact without scaling headcount. How can this feat be achieved?
Q3: Healthcare tests
Many patients and their families go through worry due to the time needed to find out which antibiotic will effectively kill a specific bacteria in the patient’s sample. Where is the entrepreneurial opportunity here?
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Q4: Solar energy
Many rural homes would like to adopt solar energy, but face significant barriers in getting access to affordable financing and running energy units. How can this gap be filled?
Q5: Culture and technology
Many citizens find it difficult to experience the beauty and significance of historical monuments, or of traditional museums. How can technology help here?
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: Health insurance
“We made a decision on day one that our North Star would be the claims experience, and that everything else would follow from getting that right,” explains. Abhishek Poddar, Co-founder of Plum. The insurtech startup covers employee health benefits, focusing on health insurance, healthcare and employee wellbeing, serving more than 6,000 organisations in India.
It claims that median cashless hospital discharge time has reduced to 47 minutes from 180 minutes in 2019, and median reimbursement turnaround time has improved to 1.5 days, from 25 days. Read more here about its clients such as Meesho, PhonePe, Swiggy, Tata CLiQ, and Zomato, spanning over 600,000 employees.
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A2: Professional services
Co-founded by Srikrishnan Ganesan, Rocketlane offers professional services automation (PSA) by digitising customer onboarding and project delivery functions. “PSA was built to track work. The next generation of platforms will be built to execute it. That’s the shift and category we’re driving,” he explains.
“Rocketlane's AI-first platform enables professional services teams to scale their impact without scaling headcount,” explains investor Apoorva Goyal, Principal at Insight Partners. Read more here about how Rocketlane has raised capital to accelerate the development of its agentic platform and scale global operations.
A3: Healthcare tests
Founded by KK Senthil Kumar, Suganth Murugaraj and Clement D, Attox Research Lab is a healthtech startup that has developed a rapid antibiotic sensitivity analysis device. It uses AI to determine which antibiotic will effectively kill a specific bacteria in a patient’s sample.
With AI, this test can reportedly be completed in just two hours as opposed to the traditional 24-78-hour window. Read more here about its electrochemical cartridge system and specialised algorithm that power its sensitivity detection kit.
A4: Solar energy
Co-founded by Sandeep Chopra and Aditya Shah, Metafin has developed a solar finance platform focused on households and rural MSMEs. It enables them to switch to solar instead of relying on expensive diesel today.
Metafin works with a network of over 1,000 local solar installers and operates a servicing arm for deployment and maintenance of solar systems across rural markets. Read more here about how this scalable, technology-driven startup has been supported by investor Lendable’s Transportation and Energy Fund.
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A5: Culture and technology
Founded by Saurav Bhaik, Ankit Sinha, and Abhishek Negi, Tagbin leverages the power of AI and immersive technology like AR, VR, and holograms. This helps create engaging experiences for museums, exhibitions and public spaces.
Its projects include the Pradhanmantri Sangrahalaya museum, which features 7.5 hours of immersive content chronicling 75 years of India’s history. Read more here about Tagbin’s AI-led storytelling project called Digital Humans, its outdoor hologram at India Gate, and its immersive education programmes.
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.
Original Article
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