Innovations in elder care a new boom market in tech

The marketing mantra of the past 40 years has been ‘follow the boomers.’

So as those boomers slip into their new roles as senior citizens, it shouldn’t be a surprise that they are still a big factor in the marketplace.

An organization called Aging 2.0 is a global innovation platform with the stated goal of accelerating innovation to improve the lives of the world’s elders. Aging 2.0 was founded by a private equity firm in May 2014 and has become an important source for funding for startups in the area of elder care innovation.

A recent startup pitch competition yielded some interesting winners that may well become reality in the near future.

They included a lighting system that turns on and off when people enter a room, an alarm system that detects falls and bed moisture and a device that monitors physical activity for those who have physio exercise commitments in their home.

Even more promising is their innovation and aging conference planned for this fall in San Francisco. The event will see elder care innovators from across the country gather to discuss, network, give presentations and provide information about advances in the how to we are going to improve the lives of elders in the very near future.

Given that many of my clients are moving into their senior years, this kind of excitement about innovation in the elder care community is great to see.

Much of the planning I do with my clients focuses on allowing them to maintain independent lives for as long as possible. Some of the innovations that are coming and will continue to flow from Aging 2.0 can help immeasurably in allowing them to achieve those goals.

If you are uncertain about your ability to maintain your independence as you age, please get in touch with us to discuss estate planning, wills and power of attorney actions.