I recently had the privilege of attending the Age Tech Challenge Innovation Showcase, a pitch competition featuring early-stage companies offering solutions for older adults. Organized by Age Tech Atlanta, the event was held on the first day of the American Society On Aging’s annual conference, On Aging 2023.
Age Tech is a $2 trillion potential market, and rightfully so. The United States currently has 111 million people over the age of 50 who are significant drivers of economic activity, something AARP has termed as the longevity economy. The Age Tech Challenge Innovation Showcase was a clear indicator of emerging solutions being created to support this key demographic’s needs.
Importantly, a resounding focus of the pitch competition and related panel discussions was not so much on the innovation achievements, but on how such solutions can be used to help older adults age in place with dignity and live richer, more fulfilled lives. As a marketing professional serving healthcare IT clients, it was a reminder of the actual “why” behind such technologies and made clear the need for compassion for those who are aging, especially as we will someday age ourselves.
While every showcased company was remarkable, there were several that struck a chord with me personally:
- Carevocacy works with primary care providers to provide tech classes to their Medicare Advantage patients to increase engagement and the use of digital health services, as well as address social determinants. Its aim is to reduce the lack of digital literacy among older patients, which gives them the confidence to be better participants in their healthcare.
- Happy Talks is a provider of a personalized social calling service working to solve the problem of loneliness among older adults. Happy Talks matches Seniors with Buddies for social calls, with the goal of delivering joy and providing peace of mind to families by knowing their loved ones are talking to someone who is background-checked and a trained listener. It serves to be a supplement, not a replacement, for families and organizations serving seniors.
- Lotus is the maker of a wearable ring that controls objects at home by simply pointing. Unlike typical home tech, like Alexa, Lotus can control existing lights, fans, appliances, and even TVs without apps, rewiring, or Internet connectivity. Lotus turns any home into a Smart Home in seconds.
Ultimately, Lotus won the event’s $10,000 cash prize plus additional in-kind benefits. You can view a listing of all the finalists here.
The AgeTech Challenge Innovation Showcase provided an inspiring look into the future of aging, from health-monitoring applications to home automation, to yes, augmented reality. By allowing older adults to be more independent, enjoy their days, and stay safe, such solutions will undoubtedly become a vital part of our economy.
Most of all, Age Tech solutions show us that when it comes to aging, we don’t have to take the same path as previous generations. We can create a new definition for what it means to age independently and successfully.
I was amazed and touched by the genuine compassion the innovators at the Age Tech Challenge Innovation Showcase had for our older population, including their determination to help them live their best lives.
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Did you know Carabiner Communications has a Healthcare Practice? We provide integrated, strategic marketing and PR support to healthcare companies of all types, from pharma and life sciences to medtech devices to age tech. We can help you grow your company visibility, resonate with core audiences, and drive sales, so let’s connect today.