Minneapolis, Minn. (PRWEB) July 22, 2013
The new normal of a rapidly aging world needs new solutions, and the AgePower Tech Search seeks to find and help launch them. AgePower was introduced today by Ecumen, a Minnesota-based non-profit senior housing and services company, which serves more than 10,000 people, and MOJO Minnesota, an innovation cooperative and advocacy force working to fuel entrepreneurship and a culture of innovation. AgePowers national advisory board can be viewed at agepower.org.
AgePowers intent is to locate, reward and help launch new high- and low-tech technology and innovation that have a positive, near-term impact on the aging experience. AgePower (agepower.org) is open to start-ups, innovators and long-established companies globally. AgePower differs from incubators or accelerators in that its focus is on transforming the future of aging and providing real-life test environments, along with access to business and invention experts in key areas necessary to fueling a successful new venture.
Aging represents a global innovation opportunity. Today 900 million people in the world are over age 60. By 2050 that number will have grown to 2.4 billion. As World Health Organization Director-General Margaret Chan says, Being in the older age group is becoming the new normal for the worlds population. Its not just the sheer size of those numbers, but these demographic realities impact every aspect of living. The new normal of a rapidly aging world needs new solutions.
Society has long looked at aging as a challenge, but it is one of the worlds great innovation opportunities, said Kathryn Roberts, President and CEO of Ecumen. From better coordinating health care services, to enhancing social connections, to making life easier and more fun, we believe the nexus of people and technology can open the door to new possibilities that improve lives and use resources better.
Ernest Grumbles, a MOJO Agitator and one its co-founders, noted that the aging demographic tidal wave is going to drive technology change at high speed.
The AgePower Submission Process
AgePower will take submissions until Oct. 31 at agepower.org. A joint Ecumen and MOJO committee will select up to four technologies/companies to receive a six-month field trial among Ecumen clients, residents and employees. In addition, finalists will gain access to the expertise of leading business advisors, entrepreneurs, venture capitalists, angel investors, engineers and others who comprise MOJO Minnesota.
This combination is designed to help expedite a move to market either through a companys own investment, outside investment, acquisition by an investor or other means. In return, Ecumen and MOJO will receive a small equity stake to align interests with the tech innovators for market success and dispersion of new, life-enhancing technologies.
Test environments will include in-home settings, assisted living communities, Ecumen sites providing Alzheimers and dementia care, and clinical settings with short-term physical rehabilitation services and/or more intensive long-term care.
About Founding Partners
Ecumen (ecumen.org), headquartered in Shoreview, Minn., is a non-profit senior housing and services company, empowering individuals to live better, easier and more fun lives. It has served people for 150 years, and operates a wide array of senior housing and services for its 10,000+ customers and develops and operates housing for third parties nationally. Contact: Eric Schubert, T. 651-766-4333, ericschubert(at)ecumen(dot)org.
MOJO Minnesota (mojominnesota.com) is an innovation cooperative and advocacy force working to fuel entrepreneurship and reignite Minnesotas culture of innovation. MOJO includes leading Minnesota entrepreneurs, venture capitalists, angel investors, business advisors and engineers passionate about creating jobs and economic growth through the power of Minnesota-based innovation-driven startups. Contact: Ernest Grumbles, MOJO Minnesota, 651-491-3643, egrumbles(at)gmail(dot)com.
Padilla Speer Beardsley (padillaspeer.com) is a strategic communications firm with expertise in a broad range of sectors, including consumer products, agribusiness, manufacturing, technology, health care, medical device and financial services. Services include consumer and b-to-b marketing, investor relations, crisis management, creative, digital and social media, and research. Contact: Kirsten Lesak-Greenberg, Padilla Speer Beardsley, 612-455-1749, klg(at)padillaspeer(dot)com.