A recent report from NPR dipped into the realm of senior care and the bustling technologies that hope to cash in on an industry valued at $2 billion.
At the center of the NPR spotlight is Aging2.0, a San Francisco-based startup company that seeks to accelerate the business of fledgling companies trying to break into the senior care tech space.
Though the company doesn’t’ develop technologies itself, it provides a platform for other entrepreneurs—many of which are much younger than the consumers they want to target—to connect with investors, long-term care providers, and even seniors themselves, said Aging2.0 Co-Founder Katy Fike to NPR.
“One of the things that we’re most passionate about is making sure these entrepreneurs, many of whom are in their 20s and 30s, are really getting important feedback on what their end-users want and need,” Fike said.
As the U.S. population continues to age and the number of eligible caregivers shrinks simultaneously with fewer adult children to provide care for the rapidly aging senior cohort, Aging2.0 sees technology as a key component in addressing this widening rift.
In May, the company announced a partnership with senior housing investment group Formation Capital to develop an early-stage fund focused on startups in the aging and long-term care sectors.
Together, the companies plan to harness the burgeoning tech startup space by investing in businesses that aim to create cost-effective, quality services through the application of technology.
Read and hear more at NPR.
Written by Jason Oliva