WASHINGTON—Today AARP launched the AgeTech Collaborative™ from AARP, a new platform to help AgeTech innovators generate big new ideas and send thriving products into what’s now an $8.3 trillion economy driven by those who are age 50 and older. Innovation will be the key to helping people take advantage of longer and healthier lives in the coming years, the 38-million-member association says.
COVID-19 has made technology more important than ever and helped close the generational tech divide. AARP’s study of technology use shows that ownership, use, and spending among the 50-plus is growing with no signs of slowing down. In that context, the new AgeTech Collaborative is convening leading AgeTech startups, forward-thinking venture capitalists, enlightened industry leaders, and creative testbeds to bring meaningful change and help solve the challenges of aging.
“COVID radically grew the world’s reliance on technology, a shift that’s especially notable among people 50-plus,” said Andy Miller, AARP Senior Vice President of Innovation and Product Development. “The AgeTech Collaborative™ is more than an event or forum – it’s an ecosystem, a one-stop destination, and a sustained effort to make the promises of AgeTech a reality. Everyone 50-plus, families and caregivers will be the ultimate beneficiaries of new, better products and services for the second half of their lives.”
The AgeTech Collaborative™ is launching with nearly 50 participating startups, six testbeds where companies can trial their products, more than ten major investors and venture capitalists, several top companies with a stake in the 50-plus community, and service providers helping catalyze startups’ work with tools and services.
“There is a pressing need for products and services that help people make informed choices about how they live as they get older,” said Nigel Morris, Managing Partner of QED Investors. “We want people to make better financial decisions, save for retirement and feel empowered to have financial resiliency. That is why we’re so excited by the efforts of AARP’s AgeTech Collaborative™. AARP is bringing together VCs, industry leaders and entrepreneurs, providing innovative fintech startups the funding and support they need to build truly world-class disruptive companies that will meet the needs of the growing AgeTech community.”
Added Kevin Collins, head of Retirement Plan Services: “One of our priorities at T. Rowe Price is to provide accelerated digital solutions that are personalized, easy, and integrated to help retirement savers achieve the outcomes they desire. We are pleased to work with AARP, one of our plan sponsor clients for over 18 years, in this new way. The AgeTech Collaborative™ will give us the opportunity to increase our exposure to innovative solutions in this emerging space.”
The AgeTech Collaborative™ In Detail
- Among the nearly 50 startups in the AgeTech Collaborative™ are Voiceitt, Rendever, Trust & Will, and Mighty Health.
- Investors and venture capitalists include QED Investors and Revolution Ventures; industry leaders include Walgreens, T. Rowe Price and the National Association of Realtors; testbeds such as the Massachusetts eHealth Institute, ADF, and ThriveWell Tech; and business services like Cooley and MassChallenge.
- Expert programming in the AgeTech Collaborative™ spans from workshops to master classes, as well as hands-on “lunch-and-learns” from AARP, experienced founders, industry leaders and thought leaders, bringing insights and actionable best practices to all participants.
- An exclusive online platform, hosted at agetechcollaborative.org, facilitates connection, sharing, exploration and engagement across all participants on an on-going basis.
Watch this video about the AgeTech Collaborative™ or visit: agetechcollaborative.org
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AARP is the nation’s largest nonprofit, nonpartisan organization dedicated to empowering people 50 and older to choose how they live as they age. With a nationwide presence and nearly 38 million members, AARP strengthens communities and advocates for what matters most to families: health security, financial stability and personal fulfillment. AARP also produces the nation's largest circulation publications: AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org, www.aarp.org/espanol or follow @AARP, @AARPenEspanol and @AARPadvocates, @AliadosAdelante on social media.