With an aging population slated to reach the billions in the coming decades, a new partnership believes technological innovation will be key in serving this massive demographic.
The AgePower Tech Search is the collaboration of Ecumen, a non-profit senior housing and services company based in Minnesota, and MOJO Minnesota, an innovation cooperative and advocacy force working to fuel entrepreneurship and a culture of innovation.
The intent of AgePower is to locate, reward and help launch new high- and low-tech technology and innovation that have a positive, near-term impact on the aging experience.
AgePower differs from “incubators” or “accelerators” in that its focus is on transforming the future of aging and providing real-life test environments, along with access to business and invention experts in key areas necessary to fueling a successful new venture.
Other innovation contests, like the LTC LINKTank held this month in Chicago, also spotlight the role new technologies can play in senior care.
“This future of aging will only benefit from these types of efforts,” said Eric Schubert, vice president of communications & public affairs at Ecumen.
One way AgePower differs from LINKTank, notes Schubert, is AgePower opens up real-life test environments for finalists to help the inventor or company fully optimize the product with substantial customer insight in prep for product changes, validation and market launch.
AgePower will take submissions until October 31, at its website agepower.org, where a joint Ecumen and MOJO committee will select up to four technologies to receive a six-month field trial among Ecumen clients, residents and employees.
Additionally, finalists will also gain access to the expertise of business advisors, entrepreneurs, venture capitalists, angel investors, engineers and others who comprise MOJO Minnesota.
“We’d love to be overwhelmed by entrants,” said Schubert.
Written by Jason Oliva