Advancing and Commercializing Longevity Market Innovations — Leveraging Seed Funding, Foundational, and Accelerator Support To Advance Innovations for Older Adults
Longevity tech is one of the fastest-growing yet relatively underserved markets worldwide. Forty percent of today’s older adults self-identify as early adopters of new technology, making the field ripe for innovation. To meet the needs of older consumers, we must understand their needs and behaviors, develop strategies designed to target them, and provide capital to seed technological innovations. Non-profit foundations and accelerators, such as AARP and its Innovation Labs, play a critical role helping entrepreneurs understand, optimize, and test longevity innovations. Innovation Centers, such as the Thrive Center in Louisville, play a critical role in connecting innovators directly to aging care providers. As the largest seed funder of aging tech in the U.S., the National Institute on Aging provides over $130m annually to support early-stage innovation and development. These resources help aging tech startups strategically commercialize needed innovations to enhance the health of older adults.