AgeTech Collaborative Links Startups, Funding, Industry
QED Investors and Revolution Ventures are among the potential lenders on AgeTech’s venture capital and investment side. Walgreens, T. Rowe Price, the National Association of Realtors, global law firm Cooley and MassChallenge, a global network of innovators working to solve major challenges, have also joined the collaboration.
“There is a pressing need for products and services that help people make informed lifestyle choices as they age,” says Nigel Morris, co-founder of Capital One Financial Services. He is now Managing Partner of QED Investors, which focuses its investments on fintech companies. “We want people to make better financial decisions, save for retirement and feel empowered to have financial resilience. That’s why we’re so excited about the efforts of the AgeTech Collaborative of the AARP.
Kevin Collins, Manager of Pension Services at T. Rowe Price, adds Kevin Collins: “One of our priorities… is to deliver accelerated digital solutions that are personalized, simple and integrated to help savers achieve results. they wish. The AgeTech Collaborative will give us the opportunity to increase our exposure to innovative solutions in this emerging space.
The AARP also invites applications from organizations such as healthcare systems, long-term care facilities, and universities that can provide frameworks where start-ups can test and validate their products and ideas.
Companies guest at apply
Working with start-ups is nothing new for AARP, but the consortium is not open to just anyone. Start-ups wishing to join must apply to participate in one of the many Shark Reservoir-like the pitch challenges that AARP hosts. Companies that win these competitions or make a positive impression are invited to an eight-week acceleration program where they can connect with other start-ups, dive into research, uncover information about the older population, and access to collaborative.
The collaboration will post blog posts and updates on its companies and technology related to aging and consumers over 50 in general. And it will host virtual events for attendees where founders can talk about overcoming the early stages of a start-up. Information on participants will be available in a searchable directory.