So much gloom and doom, it is so exciting to hear from new companies like Emfinders readying product for launch and energetic individuals starting service businesses in their various regions, from Colorado, Kansas, and Florida. I wish we heard more about these entrepreneurs in news stories, many of them self-reinventing baby boomers who both want to launch a new business -- and help those who want to remain in their home.  

If you are one of those individuals, please post an entry in the forum topic about new businesses so we can learn what you're doing. As always, if you're a new tech vendor in the aging in place space, please let me know what you're doing so that I can add you to the next version of the Market Overview vendor appendix section, posting in July. Also, startups with newly minted business plans should check out the Silicon Valley Boomer Venture Summit business plan competition -- I will be a keynote speaker at this event in June, along with Jody Holtzman of the AARP.

Speaking of that Market Overview, it is a hefty, 29-page document that outlines the rationale and formation of the market for aging in place technologies, predicts market growth and identifies the categories of products, and advises vendors on success criteria for that market. As promised, it is now selling for $295 on both ageinplacetech.com and InfoEdge, a market site for tech industry research reports. Why isn't it free anymore, you ask? Well, I've been told that when valuable market research is free, viewers think you're not serious! Arggh! I took that to heart and set a fee for the report that any business or non-profit can afford -- and if you're in the aging in place technology market, can't afford to ignore.

I've begun the research process for the next report -- Healthcare and Technology in the Home, a hot topic in the news these days, which I hope to publish by late summer. I am looking for recommendations of interviewees with a vision about where this area is (or should be) headed -- in areas like chronic disease management, medication management, and health-related Internet hubs.

Blog highlights from this past month:

The Intel-GE Alliance and what it means -- not too much. While any news of investment by these technology giants is positive and exciting, the scale of their investment and the pacing of it (next five years) is a small step for these firms and little impact on vexing problems today -- think of the rate of hospital readmission, greater frailty of those who cannot sell their homes and move, success stories from the Veterans Administration about telehealth and home monitoring. Rather than pace investment based on future aging of the baby boomers, let's expect greater urgency and faster product introduction from these two and many others.

Ten perfect storm drivers of market opportunity for aging in place. If you look at all of the factors together, entrepreneurs, executives of established companies, and venture capitalists should be able to synthesize and grasp the business opportunity staring them in the face. Offer services to the right market tier - either a supplier to or a family member of this well-heeled population, and what you see is what you can get. Read the links and brainstorm the possibilities.

Is technology a differentiator in retirement housing?  In anticipation of attending the ALFA (Assisted Living Federation of America) conference in Philadelphia next week, I wondered and did a bit of research on whether ALFs, CCRCs, Independent Living operators believe that it is.  In general, the answer is no -- despite the fact that much research about these facilities is done by tech-sophisticated baby boomers. Yet offering tech-related services (like internet access and software like PointerWare (formerly SoftShell) or Big Screen Live) can be an additional revenue source bundled into the service list.

Should service and housing providers be certified in technology for aging in place? The question posed -- should current certifications (CAPS, GCM, for example) specifically require awareness of: wireless home networks, broadband access, or PCs for a professional to get the CAPS certification? And for GCMs, what about personal emergency response, fall detection, or chronic disease management technologies? Should there be an add-on track to these certifications? Should all providers who go into a senior's home be aware and trained? If so, how, how much, and by whom?

And our new vendor of the month -- LinkedSenior, "founded with the goal of creating a world in which the life in senior communities is enhanced through better access to entertainment. The offering combines a kiosk and easy-to-use player that enables a resident in a senior facility to easily download and listen in their own apartment to audio books, talk shows, radio shows, music, audio emails, news, cooking lessons, games and more." So here's an example of a product to discuss with those ALFA attendees.

Finally, in April, we began signing companies up for modest annual retainer fees -- providing advice on their strategy, doing custom research, brokering introductions with others in the space, and generally serving as a trusted advisor to these firms. If this sounds like what your firm needs or you know someone who needs this guidance, please refer them to laurie@ageinplacetech.com for more info.

That's it for April (I know, it's already May!)

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All the best,

Laurie Orlov, Principal Analyst

Aging in Place Technology Watch