Innovation in aging care has been talked about for years, but the opportunity has never been greater than right now. We all know the statistics: there are over 70 million baby boomers. This group will continue to transform how a variety of consumer products and services are designed and delivered. Desired solutions appropriate for this actively aging population are growing in mindshare, as the boomers seek to transform the experiences of their parent’s generation.
To that end, the LINK LTC & Senior Living Conference and the International Center for Long Term Care Innovation (InnovateLTC, for short) are proud to announce a new competition that will allow some groundbreaking innovations to emerge for this marketplace. The competition provides the stage for up-and-coming entrepreneurs to gain insightful feedback and solicit funding from a panel of industry leaders including potential customers.
The panel is diverse and esteemed in its own right, including aging care provider organizations, technology experts, angel investors and venture capitalists. Leading research universities including Stanford, MIT and Georgia Tech have been invited to participate. The competition is open to individuals, researchers, teams and entrepreneurs who have developed a product, service model or technology designed to deliver higher quality care, improve wellness, or enhance quality of life and socialization. Finalists will present to an audience of more than 100 representatives including executives from senior living and long-term care provider organizations, while the judges ask questions to determine the value of each idea. Presentations will be made during the 2012 LTC and Senior Living LINK Conference, which takes place July 30-August 1 in Chicago. Up to five finalists will receive a travel stipend to attend and present their best of class ideas during this conference, along with a chance to win $10,000 in funding.
As a specialized business accelerator and commercialization company focused solely on expediting innovative products, services and technologies to the global aging marketplace, we are thrilled to be part of this event and eager to foster their expedient launch into the marketplace.
And here’s what Bailey Beeken, Vice President of LTC Events at LINK, says about the competition: “We know there are many R&D incubators who would benefit greatly by getting to meet so many potential LTC and senior living providers in an environment where they have the need for new and innovative products and services front-of-mind. They will get the benefit of solid, constructive feedback, with an opportunity to talk to these potential customers about beta testing, purchasing and future planning.”
Nominations remain open through June 30. A nomination form can be found by clicking here. If you’d like to know more about the competition, contact Alicia Heazlitt at (502) 569-0301, click here or send an e-mail to [email protected]
John Reinhart is the President and CEO of the International Center for Long Term Care Innovation.