Minnesota Firms Launch Tech Search For Elderly Focused Products And Startups

Minnesota startups, aging startups, elderly

Baby Boomers are the largest generation in history, and now they are getting older. While the elderly will soon become the biggest demographic segment in the population, one of the unique things about this segment is they are the first group that started integrating with new ideas in technology. People entering their 60’s and 70’s now were likely to have used computers in their workplace and cell phones in their daily lives.

That’s why the time is ripe for startups and inventors catering to older segments of the population to bring their products to market.

To assist in that goal, St. Paul Minnesota based AgePower.org has created a program for entrepreneurs building products catering to this segment

MoJo Minnesota, an innovation cooperative, and Ecumen a Minnesota organization providing housing and care to over 10,0000 elderly residents in the state, have teamed up to launch the “Age Power Tech Search.”

The program is a hybrid: part incubator, part accelerator, and part customer discovery program. Startups will submit their idea, company, or product to a team of judges from MOJO Minnesota and Ecumen. They will then pick 4 companies that will be in the program and get to test market their product to Ecumen’s robust network of elderly clientele.

The selected startups will also get access to mentors through both organizations and access to local investors through MOJO Minnesota. In exchange the program will take a small equity stake in the company, Venture Beat reported.

Eric Schubert, Vice President of Ecumen told Venture Beat in an interview that the elderly segment is often overlooked in technology.

When asked about what kind of ideas they are looking for, Schubert told Venture Beat, “Is there a technology that can help an elderly person live independently? How about helping them maintain social connections? Or improving the rehabilitation experience after a surgery?”

Interested entrepreneurs and startups can submit their ideas through October 31st here at Agepower.org

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