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AARP Commits $40 Million To Help Start-Ups

aarp announces investment fundIn October AARP announced it was establishing a $40 million (venture capital) fund to focus investments on companies and ideas that “provide capital to innovative companies focusing on improving the lives of people 50-plus”. In what's being billed as The AARP Innovation Fund, this investment allocation will focus on companies developing innovative products in three healthcare related areas:  Aging At Home, Convenience and Access to Healthcare, and Preventative Health.

The aging of the U.S. population, along with an increasing emphasis on aging at home — instead of in assisted living or a nursing home — is fueling investment in technologies such as telemedicine, which allows patients to communicate remotely with health-care providers. According to a 2014 study by IHS Inc., the global telehealth market will increase to $4.5 billion by 2018 from about $440 million in 2013. – Bloomberg Business, Oct. 1, 2015

There's little doubt that a big focus for investment will be the idea of “the connected home”.  The idea is that the right convergence of technology will allow individuals to live independently in their own homes longer.  An industry buzz word(s) for this phenomenon is called Aging-In-Place.  Products and/or services like telemedicine programs, connectivity hubs (to family and/or caregivers), medical alert systems, and new mobile apps aimed at seniors seem like great investment options in this space.

People 50-plus are online, connected and make use of technology that is intuitive and consumer friendly. They have tremendous buying power – responsible for at least $7.1 trillion in annual economic activity – a number that is expected to grow to $13.5 trillion by 2032. Companies working with the AARP fund have a great opportunity to grow the double bottom line: They can increase revenue and improve the lives of Americans as they age. – PR Newswire, Oct 1, 2015

Must Read: AARP Rewarding “Random Acts of Kindness”

We look forward to watching and learning about beneficiaries of this fund.  The hope is to find innovators with staying power in the boomer/senior space.  Those that find the magic combination of best-in-class product + best-in-class service could be destined for greatness.

Have a favorite new product or service we should be aware of? Let us know in the comments below!

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3 Comments

  1. I wish aarp could set up some kind of help for people in my position. I have been trying to get housing in the Fort Worth, Texas area for over a year. I’m 53 and dis-abled. Mits transportation just turned me down so I would have to walk a mile to the nearest bus stop. I’m supposed to get an electric wheelchair soon per my pcp. I had to pay to move twice in less than two years due to the death of my loved ones that I lived with. I need an accessible apartment NOW as Adult Protective Services wanted to pull me out of where I’m living due to verbal abuse and neglect; However, I have a support animal for panic disorder and I was told he could not go. That’s not even mentioning the furniture I had just payed off. It is in the people’s shed and garage. So in order for me to be somewhere safe I have to lose everything. I pray no one ever has to face this. My monthly income is $754.00. I have no clue what to do or how to get a safe place to live immediately so I don’t have to give up the only live thing who loves me and I depend on. Please try to come up with a way to help people in situations out of their control. Thank you in advance. I know it won’t help me; However, maybe by my telling you my situation you will come up with a way to help others like me. Melany Rowley (email redacted- admin)
  2. Hi there, I am the co-founder of GrandBox, http://www.mygrandbox.com/, a subscription box company that curates care packages for seniors. It’s the perfect gift for the older loved ones in your life that live alone, far away, in retirement communities and nursing homes. We help families connect and stay connected.

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