AARP Hearing Center
Key takeaways
- The AgeTech Collaborative from AARP connects start-ups with investors opportunities to test products and mentorship.
- The accelerator runs multiple cycles annually, selecting a small group for each session.
- Participating start-ups have raised nearly $1 billion and reached 2.3 million people.
It was the words of legendary physicist Stephen Hawking that started Marilyn Morgan Westner and her husband, Alex Westner, on their entrepreneurial path. In his last book, Brief Answers to the Big Questions, Hawking urged people to create technology to help others accomplish big things, the way technology had helped him, Marilyn says.
Alex, who had spent his career teaching machines to understand speech, was struck by Hawking’s directive and began brainstorming ways to build some kind of meaningful technology. The pair landed on creating an alternative to hearing aids: glasses that can project a live transcript of conversation into the wearer’s field of vision.
But the Westners’ small start-up wanted help testing their product with the people who would benefit and to get assistance raising their profile in the marketplace. They sought out the AgeTech Collaborative, an AARP-funded start-up incubator that nurtures innovative technology designed to improve life for people as they age.
“Being part of that ecosystem — that’s what really enabled our company to take off,” says Marilyn, who is in her mid-50s.
Accelerating innovative technology
Since 2021, the AgeTech Collaborative has sought out new ideas and promising technology. Funded by AARP, the collaborative doesn’t sell or create products; instead, it supports the development of technology to solve age-related challenges.
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The AgeTech Collaborative holds pitch competitions around the country, a format Shark Tank fans may be familiar with: Start-ups, offering everything from financial tools to caregiving solutions for adults 50-plus, present their ideas to an audience of founders, investors and AgeTech staff. Those with the best ideas are invited to apply for the AgeTech Collaborative’s eight-week accelerator program, which accepts up to 10 start-ups four times a year. There, entrepreneurs have a chance to connect to resources “that they might not otherwise get access to,” says Rick Robinson, vice president and general manager of the AgeTech Collaborative.
Entrepreneurs who have gone through the accelerator have been able to raise nearly $1 billion in investment funding, and the products they’ve launched have affected nearly 2.3 million lives, according to data collected by the AgeTech Collaborative.
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