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Market Overview for Technology for Aging in Place

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Boomer-Senior Tech Business

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Boomer-Senior Tech Business

The 2016 Louisville Innovation Summit Adds Key New Speakers for its Third Annual Conference, October 9-11, 2016

08/12/2016

LOUISVILLE, KY, August 12, 2016–The third annual Louisville Innovation Summit will address many issues facing the Aging Care industry, as it presents its third annual summit in Louisville, KY, October 9-11th at the city’s downtown Marriott. In the last few weeks, the Summit has added an exciting line up of industry leaders to its growing list of world-renowned speakers.

Tech and aging marketplace: Did you miss these posts?

Do VCs matter in the older adult space? According to a Stanford Business School analysis, in today's economy VCs have become a 'dominant force' in the financing of innovative companies. This began, they note, with "a regulatory change in 1979 that permitted pension funds to invest in VC funds."  Okay, but do VCs really matter? Now switch coasts and perspectives, note how a Harvard Business School report picked through six myths about VCs, pretty much debunking the rhetoric in the Stanford report. Most VC funds, especially larger ones, do not outperform the market. "VC financing is the exception, not the norm, for startups" and given the rise of crowd funding and a broad range of angel investors, "VCs will continue to play a significant, but most likely smaller, role in channeling capital to disruptive start-ups." The question to ponder:  which category of investor, and specifically which investor groups, are interested in the older boomer and senior markets?

What are the rules, what are the criteria for innovation competitions?

Everyone loves competitions – but could they be better?  RANT ON. So what could be better than innovation competitions? Especially those that focus on improving quality of life for older adults? So in the face of these feel-good goals, here are a few laudable calls-to-action phrases from past competitions. From Aging 2.0: "quality of overall concept, viability of product or service" and "impact on the aging experience – potential to improve quality of life for older adults, caregivers, and/or revolutionize the aging services industry." From Stanford Longevity Design Challenge:  "Create well-designed, practical solutions that address key issues associated with aging." From a CAST/Leading Age student competition: "Transform existing products or create new ones that would appeal to middle-aged adults. Students in gerontology, engineering, business, industrial design, architecture and social work are especially encouraged to participate."  

How much do VCs matter for startups in the older adults segments?

It is a given -- startups want to hear from venture capital panel pundits.  Hindsight being 20-20, those who help make venture capital investments clearly have panel potential. You are a startup and what you want most to hear is why VCs invest and why they seem alternately enamored with consumer-oriented tech or enterprise/health tech.  In fact, you could puzzle a bit over the way newly-generated terminology overtakes ideas that did not do well with VCs or anyone else. For example, what happened to the 2001 prediction of the rise-fall-rise of eHealth?  

Consider Challenging Innovators to Design for older adults

Consumers don't care about products -- they want solutions. What year were those words said? "The senior home monitoring market has historically been more aligned with home security and security installer/dealers than with the hands-on consumer/family. But in fact, home security dealers were not well-prepared to market to seniors. Now innovation (versus Digital Health quackery) and price disruption are pushing those offerings into the hands of consumers, where what matters is simplicity. And what matters is ease of integration into what exists PLUS availability of training on how to use it."  See how the advice from a previous research report stands up to scrutiny -- published exactly two years ago -- repeated today with new links right before the 2016 Silicon Valley Boomer Venture Summit:

Why an up-to-date online presence matters

Why does Sunrise Senior Living have a blog?  Actually, it appears to have been updated today.  You might think that a company in the residential senior care business wouldn’t.  And further, Brookdale can be followed on Twitter.   So can JoAnn Jenkins of AARP – that makes great sense – AARP is a content/media company.  So what’s up when you can’t find any reasonably current content, or worse, the site offers up a suggestion to meet up in…2015? Or when the last tweet from a company that is still in business and is doing quite well – but their last Tweet was in 2012?

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