The most promising companies and their ideas receive expert mentorship through an eight-week AgeTech Accelerator program to develop their products and bring them to the public faster.
In the year since the collaborative began, more than 75 start-ups have become part of the program. So far, AARP has also invested in roughly 50 businesses.
And 18 start-ups were part of the AARP AgeTech Collaborative booth at CES, previously known as the Consumer Electronics Show, in January in Las Vegas.
The aim is not simply for AARP to see a financial return but to provide older adults with modern, useful and accessible products that improve their daily lives as the world population ages.
In 2021, about 119.6 million people in the United States were 50 and older, about 36 percent of the country’s total population, according to the Census Bureau’s American Community Survey. The numbers will steadily tick upward in the next 30 years, reaching 154.6 million older adults and 41 percent of the U.S. population by 2050, according to a report from AARP and Economist Impact that was updated to reflect the effects of the pandemic.
Along with an increase in numbers comes an increase in economic clout. Those who are 50 and older are responsible for nearly 46 percent of the U.S. economic output, rising to more than half by 2050, the AARP report shows. More than 56 cents of every dollar in consumer spending comes from this age group, and that will grow to more than 62 cents of every dollar by 2050.
So in the long run, an investment of resources into promising new businesses will help older adults and the nation’s economy.
7 recent partnerships
Beeyonder. Beeyonder provides live and interactive virtual tours of popular travel destinations around the world.
Its accessible and inclusive travel offerings allow you to revisit a place you love or make new unforgettable memories somewhere else. Spend the morning at the pyramids in Egypt and the afternoon walking through the turrets of a Scottish castle.
Boston-based Beeyonder was founded by Brittany Palmer, a bilateral amputee who has overcome many challenges, and whose mission is to help others overcome challenges to in-person traveling. Private tours are available individually or as packages.
Casana. What if a trip to the bathroom could save your life? The Heart Seat by Casana, based in Rochester, New York, is a toilet seat that measures blood pressure, blood oxygen and heart rate.
The goal is to spot a health concern before it escalates. The seat sends the data to a secure dashboard, which enables patients to share their health trends with their primary care physicians or cardiologists.