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Market Overview for Technology for Aging in Place

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AARP Innovation 50+ Live Pitch 2017 – Some familiar, some new

AARP’s Innovation 50+ Live Pitch starts today – what's new?  This marathon tried to put 20 pounds of entrants (culled from many more) into the 10-pound bag of a two-day pitch event across two broad categories. So following this trend towards compression, we will leave FinTech to others and just focus on the Caregiving Health Technology firms. While the pitch may be new, some, as noted, may not be new. Placed in context by taking note of what’s in (or was in) market and similar to these finalists. In the alphabetical order presented and updated with winners noted -- link to available websites or descriptions -- minus Twitter handle:  

  • Aegle Palette, San Francisco, CA, "works to prevent and revert chronic diseases by empowering patients and providers with complete nutritional and lifestyle data. Palette is smart placemat residing on your dining table that accurately tracks your meals’ nutrition." $15/month subscription fee. Has an app. Anything similar?  SmartPlate. Tellspec.
  • AgeWell Global, London, UK, "seeks to improve the psychosocial well-being and health of less able older adults through tech-enabled, peer companions who address emotional, social, and physical health through regular home visits, periodic phone calls, and algorithm-driven referrals to health care providers and links to social networks in their communities." Pilot stage. Has an app. Anything similar? SeniorsHelpingSeniors, FullCircleAmerica.    
  • BrainCheck, Houston, TX, Founded to detect student athlete concussions, now has "early detection of memory loss for individuals and senior living communities. Offers a rapid, mobile cognitive tracking platform for cognitive health assessments to be a routine part of life for everyone. In under 10 minutes, they assess multiple cognitive domains, and deliver results immediately, tracking changes from a person’s baseline and from the population average.” Has a web app in addition to smartphone.  Anything similar?  Impact, Cantab Mobile.
  • Ceresti Health, Carlsbad, CA, Online family caregiver training tool. “Empowers family caregivers to tackle chronic conditions and care challenges for loved ones living with Alzheimer’s Disease and other dementias. Their personalized digital health programs provide caregivers with education, support." Anything similar?  aQuire, CareZone.
  • GoGoGrandparent, Mountain View, CA, Telephone-based tool (originally a phone service to call an Uber). This "helps older adults access and use on demand transportation and offers extra tools for caregivers." Has added tracking the trip and ability to repeat previous pickup and drop-off locations, like grocery store trips. Winner, Judge's Choice.  Previously discussed in April, 2016.
  • iBeat, San Francisco, CA, is an "emergency response network making the world safer by giving people the fastest access to care in an emergency via a smartwatch that continually monitors users’ heart activity. In an emergency, iBeat will instantly alert the user, their loved ones, and 911, helping ensure immediate care and potentially saving the user’s life." Pre-Order.  Anything similar?  Withings Pulse, Philips HealthWatch.
  • Kinto, Cambridge, MA, "is a smartphone app that helps family caregivers with finances, medical bills, prescriptions, legal documents, and simply keeping Mom or Dad safe, happy, and healthy. Kinto is always in your purse or pocket with practical advice, useful tools, and a community of fellow caregivers sharing their support."  Anything similar? See Caring.com's list.
  • AskMarvee, St. Petersburg, FL, "is a voice-driven, care-companion service imbued with alerts, home safety and family interaction functions, providing awareness, peace of mind and social engagement." Interacts with Amazon Echo as an Alexa skill or smartphone app. Previously discussed, December, 2016.
  • PillDrill, Las Vegas, NV, is a "smart medication tracking system that intelligently modernizes the pill taking experience. PillDrill is easy to use, adapts seamlessly to any medication routine, and works whether a person manages their own medication regimen or someone else's." Previously discussed in April, 2016.
  • Siren Care, San Francisco, CA, is a "smart sock with sensors embedded inside the fabric that tracks temperature and can find injury in real time, improving the lives of people living with diabetes." Winner, Consumers' Choice. Pre-order. Anything similar? Sensoria (attempted), SenseGO

Comments

Excellent overview, as usual. I struggle with the market niche for these products or services. Are they aimed at the 55-65 market? 65-75 market? 75+ market? I'm recalling a comment by one of your followers that the 80+ cohort is unlikely to use this technology, for cost and convenience reasons. Also, in this welter of new products, what factors would you use to determine the future market leaders? Obviously, most of these products will have a short half life.

How can you say the Withings Pulse and Philips HealthWatch are similar to iBeat? The iBeat watch detects for an oncoming cardiac arrest and can call your emergency contacts and 911 directly from the watch. No other product on the market that I know of can do that. The current offerings you mentioned about are simply heart rate tracking wrist monitors. They can't get you help in an emergency.

For those of you mulling over potential for the LivePitch companies, perhaps a refresher for launching a new product or service is in order. A good pitch is a good start. 

 

 

 

Each of the innovative companies itemized in your blog article illustrate how technology can simplify the process of becoming a professional or family caregiver. It will be intriguing to watch the futuristic landscape of home care, so inventive technologies can continue to lessen the burden of a stressful caregiver role. 

If interested, I might suggest group members bookmarking your blog article, so they’ll have handy information for future reference.