investment & innovation for an aging world v2.0.pdfinvestment & innovation for an aging...

Investment & Innovation for an Aging World Steven B. Katz JD, MBA, LLM, MPH, CPA, CMC, CDP, FACHE Ambassador Aging2.0 Local Greenwich, CT

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AGING2.0 / NEW CANAAN MEN’S CLUB Investment & Innovation for an Aging World

1. Introduction to Aging2.0

2. Investment in Aging: Trends

3. Innovation in Aging: Trends

4. Panel Discussion - Q&A

Steven B. Katz

● President: Sterling Care

● Certified Geriatric Care Manger

● Vice-Chairman Town of

Greenwich Commission on Aging

● Spearheading Age and Dementia

Friendly Greewich Initiatve

● Board of Directors –

Southwestern CT Agency on

Aging

● Masters of Public Health from

Columbia University

● Aging 2.0

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How I got here...

Aging 2.0 Local Greenwich “Street Team”

Not just aging, but aging ever faster



Source: NIA/NIH/WHO

Countries are aging 10x quicker than 100 years ago


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Source: US Census Bureau

The Shift of the Aging Population in United States



Aging1.0

Aging2.0

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A radically new approach to aging is needed



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OUR MISSION

Supporting innovators taking on the biggest challenges and opportunities in aging

OUR COMMUNITY - Launched 2012 by Stephen Johnston and Katy Fike

International, Interdisciplinary, Intergenerational

• 170+ Corporate Members

• 45+ Chapters in 20+ countries

• 3000+ Startups tracked

• 1000 Attendees coming to 2017 OPTIMIZE Conference

• 15,000 global subscribers

New Canaan Men’s Club | March 16, 2018

AGING2.0 BENEFITS | PROGRAMS

● All programs are designed to touch on

○ Community

○ Content

○ Convening thought leaders

● Program and communities reinforce

one another

PROGRAMS | Grand Challenges

● Thought leadership initiative

● Framework

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Aging2.0’s ‘Grand Challenges’


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Aging2.0’s ‘Grand Challenges’ 2018 Area of Focus: Brain Health


• Maximizing cognitive ability and brain health is increasingly a priority for aging societies as the

number of people with cognitive limitations and mental health issues continues to rise.

• New approaches, tools, and services are needed to increase awareness, reduce stigmas, improve

prediction, speed diagnosis, enhance treatment and support caregivers.

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Aging2.0’s ‘Grand Challenges’ 2018 Area of Focus: Caregiving


• Care for older adults is provided by informal (unpaid) and formal (paid) caregivers, both of which increasingly care for

people with higher levels of acuity and complex conditions.

• Family caregivers— who are often juggling other family and work responsibilities while living remotely from the care

recipient—need better support, training, resources and tools to support their loved ones and themselves.

• On the professional side, staff shortages and quality concerns require new solutions to help attract, train, develop and

leverage scarce human capital

PROGRAMS | Chapters

● Volunteer-run groups throughout North America,

South America, Europe, Asia, Australia and

Africa

● Host in-person events to educate and connect

local communities

● Regional focus - shared globally

● Monthly video calls with chapter ambassadors

● Local Chapters in Greenwich, New York and New

Haven

• Launch Event Tuesday March 20th 6-8PM

• Centro Ristorante & Bar – 328 Pemberwick Road,

Greenwich CT – Admission is Free

• Learn about Aging2.0

• Become part of a global aging innovation ecosystem

• Network and meet like-minded people

• Sign up to Aging2.0 Local Greenwich, CT Chapter at

https://www.aging2.com/greenwich/ to get on our

mailing list and to RSVO to this event.

https://www.aging2.com/greenwich/

PROGRAMS | Corporate Relations

● Alliance

○ Corporate community with 175+ members

○ Branding, knowledge sharing, collaboration and

networking across tech platform

○ Deepest level of engagement with the Grand

Challenges

● Leaders Circle

○ Highest tier of the Alliance - includes benefits

above in addition to Platinum OPTIMIZE

sponsorship and 1:1 support


A global Alliance of 170+ corporate partners

PROGRAMS | OPTIMIZE Conference

● Annual global conference hosted November 14-

15, 2018 in San Francisco

● 1,000+ attendees representing over 20 countries

● Inspiring keynotes, practical breakout sessions,

leading technology exhibits and ample

networking

● Chapter Bootcamp tentatively scheduled for

November 14

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Connecting startups and industry A radical new approach is needed

● Aging2.0’s ‘Grand Challenges’ align

innovators behind common goals

● Evolution of programs based on partner

needs, challenges and priorities

● Uniquely positioned to aggregate data,

analyze and share insights


How to innovate??

Develop a top-down innovation culture with “permission to fail”

Reward failure | Two-way mentoring | New metrics | Collaborate with like-minded Partners

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Hackathon: Ageless Travel | Aging2.0 / Google London

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Global Start Up Search | Aging2.0 Taipei Chapter


Source:Brookdale

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Design with real people as advisors & ‘Chief Elder Officers’

“Design with me, not for me” - June Fisher, 83, Aging2.0 Chief Elder Officer

Intergenerational Design Challenge | Aging2.0 / Stanford Center on Longevity

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Entrepreneur in Residence


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AGING2.0 / NEW CANAAN MEN’S CLUB Investment & Innovation for an Aging World 1. Introduction to Aging2.0

2. Investment in Aging: Key Trends

3. Innovation in Aging: Key Trends

4. Panel Discussion - Q&A


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Aging2.0 Incubator & Investment Case Study - Sensassure



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● About Sensassure:

○ Toronto, Canada-based

○ Incontinence management for care providers

○ Potential to integrate more sensors (= scalable)

○ ‘Live in’ Pilot tested in Revera (Aging2.0)

● Funding:

○ 2015 initially raised: 50k, then 100K

○ Investors (accelerators): NEXT Canada, Highway1 Term: $50K investment in exchange of 5% equity


Aging2.0 / Revera / Sensassure - Test Results


Acquired by Essity in September 2016



● About True Link:

○ Founded in 2011, California US-based

○ Use sophisticated financial data to deliver personalized retirement investment plans - dedicated financial advisor & fraud detection

○ Scalable business to help solving financial security of older adults

● Funding: ○ Raise-to-date: $15M

○ Last deal: $8M (Series A, October 2017)

○ Investors (leads): QED Investors, Cambia Health Solutions, Kapor Capital

INVESTMENT TRENDS: Aging 2.0 Alliance Funding - True Link

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AGING2.0 / NEW CANAAN MEN’S CLUB Investment & Innovation for an Aging World

1. Introduction to Aging2.0

2. Investment in Aging: Key Trends

3. Innovation in Aging: Key Trends

4. Panel Discussion - Q & A

1. Authentic storytelling

2. Person-centric design arrives, finally

3. Disappearing technology - in particular user interfaces

4. AI & Driverless cars

5. Tools to support and engage the family

6. Consumerization and specialization of robotics

AGING2.0 Innovation in Aging - Key Trends

Authentic storytelling 1

https://www.youtube.com/watch?v=k0KIqRAoGBk

https://www.youtube.com/watch?v=k0KIqRAoGBk

Person-centric design arrives, finally 2

37 37 @aging20 New Canaan Men’s Club | March 16, 2018 Source: WiseWear

“We want functionality AND beautiful design AND accessible pricing”

● Dexterity issues can make mice, touchpads, and keyboards challenging

● Voice interfaces offer a platform for new startup solutions (e.g., Amazon’s Alexa and Google Home)

● Gesture-based solutions to control appliances (e.g., Reemo, Myo)

Disappearing technology - in particular user interfaces 3

38 38 @aging20 New Canaan Men’s Club | March 16, 2018 Source: Google Project Soli, Amazon Echo

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AI & Driverless Cars 4


http://www.youtube.com/watch?v=ZtP3gl_2kBM

● Over forty million family caregivers in the U.S. provide an estimated annual value of nearly half a trillion dollars

● Many family caregivers don’t self-identify as caregivers, making it hard to reach them

● New startups are delivering targeted content, and local support communities (Daughterhood) and coaching and care coordination (Cariloop, Care.ly, Tending) are providing support for caregivers

● Next step: integration along the care continuum

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Tools to support and engage the family 5

GLOBAL TRENDS


● AI-driven robots can now provide companionship and social connection, and e.g. improve medication adherence

● The next wave will likely be robots helping in the “back of the house” (e.g., cleaning) which can allow more time for care

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Consumerization and specialization of robotics 6

41 @aging20 Source:Intuition Robotics, Catalia Health, Jibo New Canaan Men’s Club | March 16, 2018

Threats to Independent /Assisted Living Communities ● Later move in ● Higher expectations ● Alternative housing options ● Smart homes ● E-medicine ● Virtual communites ● AI and wew consumer players

Opportunities for Independent /Assisted Living Communities ● Competing with isolation ● Healthcare integration ● Economies of scale &

support

The Near Future. A Better Place

https://www.youtube.com/watch?v=WjjhcdcBkK4

https://www.youtube.com/watch?v=WjjhcdcBkK4

Thank you

Steven B. Katz, Aging2.0 Local Greenwich, CT

[email protected]

(203) 930-7098

mailto:[email protected]

mailto:[email protected]

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