AARP Foundation Prize
Rewarding Innovations Serving Low-Income Older Adults
Good ideas can come from anywhere. The AARP Foundation Prize was created to seek out promising ideas and unlock new opportunities to help solve the problems so many low-income older adults face as they age.
The AARP Foundation Prize is a cash award to entrepreneurs to help fund innovative solutions serving low-income (those earning less than $40,000 in Median Household Income) individuals aged 50 and older, with respect to one or more of the following:
1. Housing: the need to live safely, independently and comfortably in functional and affordable homes – read more
2. Hunger: the need to access adequate and nutritious food – read more
3. Income: the need to increase or maintain income – read more
4. Isolation: the need to enjoy the positive health outcomes of strong and sustaining social bonds – read more
AARP Foundation Prize awards are available in existing business plan competitions at participating universities, and to all startups in the U.S. through the 2016 Aging in Place $50K challenge.
2016 Aging in Place $50K Challenge
AARP Foundation, in collaboration with Aging 2.0, invited startups from across the United States to apply for the Aging in Place $50K Challenge. Competitors have the chance to win a $50,000 cash prize for the most innovative solution that will help low-income adults 50 and older continue to live safely, independently and comfortably in their own homes as they age.
Older Americans consistently express their desire to stay in their own homes and communities as they age. Those who do so comfortably and independently experience better health outcomes. Yet, despite the health and economic advantages to society of aging in place, 19 million older adult households struggle with in unaffordable or inadequate housing. The economic recession has left nearly a quarter of mortgages held by older adults underwater. In addition, of the 4 million older adults eligible for rental assistance, only 1.4 million receive the help they need.
University Business Plan Competition
The AARP Foundation Prize offers cash prizes to teams competing in existing business plan competitions at participating universities. Awards are given for solutions that best help low-income adults 50 and older achieve one or more of the following:
- continue to live safely, independently and comfortably in functional and affordable homes as they age
- access adequate and nutritious food
- increase or maintain their income
- enjoy the positive health outcomes of strong and sustaining social bonds
Additionally, AARP Foundation encourages solutions that are both practical and scalable in order to have the greatest possible impact.
How to Apply
1. Select your university from the list of participating universities. You will be directed to your university’s business plan competition website.
2. Review and comply with your university’s rules, and follow the process specified by your university to submit your business plan to the university’s business plan competition.
3. Indicate in your submission that you wish to be considered for the AARP Foundation Innovation Prize. You do not need to contact AARP Foundation directly.
4. AARP Foundation will work directly with your university and review your submission.
5. AARP Foundation will present awards during the final awards ceremony at your university’s business plan competition.
If your university is not listed and you would like your university to participate in the AARP Foundation Prize, please contact us at firstname.lastname@example.org
- Boston College
- Drexel University
- Duke University
- Fordham University
- George Washington University
- Johns Hopkins
- Massachusetts Institute of Technology
- Northeastern University
- Pepperdine University
- Syracuse University
- Tufts University
- Tulane University
- University of California, Davis
- University of Illinois
- University of Minnesota
- University of Portland
- University of Washington
- University of Wisconsin-Madison
Emerald: Technology that uses radio waves to detect motion, falls, heart rate, breathing and patterns of daily activity without requiring the 50+ individual to wear any sensors.
Massachusetts Institute of Technology
MySupport: Software that allows low-income 50+ to select their own home-healthcare worker based on aspects of affinity resulting in improved healthcare outcomes and reduced costs.
AARP Foundation Prize