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Market Overview for Technology for Aging in Place

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AGE-WELL Pitch Competition: Technology to Support People with Dementia

07/24/2016

AGE-WELL, in partnership with the Global Council on Alzheimer’s Disease (GCAD), Otsuka America Pharmaceutical, Inc.,  Aging2.0 Local | Toronto, the Ontario Brain Institute, and the Women’s Brain Health Initiative is proud to host a pitch competition this July in Toronto, ON Canada.

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Innovation for the senior market from Israel

Entrepreneurs from Israel have found or been found by Aging 2.0. The mission of Aging 2.0 extends beyond the US: they are seeking innovators and inventions from everywhere, holding events, inviting pitches and announcing finalists. Last week, 12 entrepreneurs from Israel were written up in Jewish Business News – targeting 'technologies for the myriad needs of the aging population.' Five are included here. These have some unique attributes, but also inspire questions -- which may be the 2.0 issue of aging tech/tech-and-aging. Consider the five below. The target recipient of the technology is uncomfortable with technology, may have a physical limitation (hearing or dementia), and be at risk of social isolation. For each of these inventors, next is to identify the go-to-market partner category that will move these offerings into the homes of those who benefit at a beta-tested price point, combining with already familiar services targeting the broader needs of these individuals. These are very early-stage and all text comes from the original article:

New Award-Winning Residence for Those with Alzheimer ’s Disease

06/29/2016

NORTH RIVERSIDE, IL – The Caledonian House, a new assisted living home specially designed for those with Alzheimer’s disease, will offer best in class memory care following a ribbon-cutting ceremony on July 13 at 11:00 a.m. on the Scottish Home campus, 2800 Des Plaines Avenue, North Riverside.

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Proximity Button: Young entrepreneur launches crowdfunding campaign

06/06/2016

Natalie Price, aged 25, was inspired to create a device that

would keep people living with dementia safer after having watched her own mother

care for people with dementia for over 15 years. Today she launched an Indiegogo

campaign to crowdfund enough to manufacture the device. The Proximity Button,

the first of its kind in the dementia market, uses innovative technology to provide

carers with an affordable solution to protect people living with dementia from

wandering. The smart Button sensor, worn by a person with dementia, connects to a

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Five technology Innovations for Older Adults – May, 2016

The more things change in the age-related markets, the more they change.  Even without an age-related event announcement, article, or article series, new startups and initiatives emerge every week that can provide benefit to older adults and those who provide care for them. Some firms want to apply tech from other market categories to the aging market segment. Others are already in the segment and announce a new offering. Categories of these five from May include health, tech support, hydration, transportation, and social connection, Information is derived from the websites of the companies:

AARP Health Innovation@50+ Live Pitch (April-27-2016) Finalists

It’s really too bad that AARP ended its national events. The last one was in Miami last year – it was a good one – and Atlanta must still be reminiscing about that spectacular 2013 Life@50 event – which provided a pavilion and ramp-up for its AARP TEK training program.  From 2013: “AARP TEK’s activities in Atlanta also will include youth volunteers known as “Tech Wizards” from 4-H Clubs of America and local colleges and universities, who will help boomers and seniors learn technology basics and how it can enhance their lives day-to-day."

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Five New Technology Offerings for Aging in Place – April, 2016

Home is where seniors are, and for the most part, will stay.  But that doesn’t mean they will be shut out from technology innovations – increasingly those innovations are designed to benefit those at home. Increasingly, those organizations that serve older adults must also stay current on new technology developments and assess their fit for the care recipients they serve.  Categories of these April offerings include transportation, medication, housing, robotics, and tracking -- information is derived from the companies.

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