It’s time to pay attention to age-tech

Many of us have only been able to see our elderly relatives through screens for the last two years, watching them age and trade physical distance for their safety.

The pandemic has highlighted the vulnerabilities of the elderly more than anything else. The tech community as a whole, including founders, investors, and journalists, needs to pay more attention to “age-tech.”

“Age-tech” is not a niche industry, and aging populations are not confined to a few countries. According to a recent World Health Organization report, one in every six people will be 60 or older by 2030, with the number of people aged 80 or older expected to triple to 426 million between 2020 and 2050.

“While this shift in the distribution of a country’s population toward older ages, known as population aging, began in high-income countries (for example, in Japan, 30% of the population is already over 60 years old), it is now low- and middle-income countries that are experiencing the greatest change,” according to the report. “By 2050, two-thirds of the world’s over-60-year-old population will live in low- to middle-income countries.”

According to the WHO report, “globalization, technological developments (e.g., in transportation and communication), urbanization, migration, and changing gender norms are all having an impact on the lives of older people in direct and indirect ways.” A public health response must assess current and projected trends and develop policies accordingly.”

Tech behemoths have begun to capitalize on the potential of this growing demographic by developing new services for their existing platforms and hardware. For example, Amazon officially launched Alexa Together earlier this month, which transforms Alexa devices into tools for caregivers by providing features such as calling for help, an emergency helpline, fall detection, a remote assist option to help manage device settings, and an activity feed so family members can see if someone has been less active than usual. Meanwhile, Google began testing a simplified Nest Hub Max interface at retirement homes last year in an effort to make residents feel less isolated during lockdowns.

Startups that focus on age-tech, on the other hand, pique my interest. When I cover hardware events, I’m encouraged to see how many companies are developing technology for the elderly. The majority of next week’s CES announcements are still under wraps, but I’ll be doing a round-up of age-tech startups there.

Nobi’s smart lamp, an unobtrusive ceiling lamp that alerts caregivers when a fall or irregular movements are detected and automatically illuminates the floor when someone stands up to walk, was one of the most intriguing products at the most recent CES in January 2021.

There were also a number of age-tech presentations, including one by AARP Innovation Lab, the nonprofit’s startup accelerator program, which showcased nine companies. Many people focused on assisting the elderly to “age in place,” or stay in their homes rather than moving into nursing homes. Wheel Pad, whose accessible, modular work and home spaces fit into existing structures and sites; Zibrio, an at-home scale that predicts whether users are at risk of falling; and FallCall Solutions, which develops Apple Watch apps and wearables, including jewelry, to help family members and other caregivers check in on users.

However, hardware can only take you so far. Startups all over the world are looking into the needs of caregivers as well. Burnout among caregivers is a major issue, but technology can help. For example, Homage, which is currently operating in Singapore and Malaysia, intends to expand into five additional countries over the next two years. To evaluate caregivers and help match them with patients, it creates a profile for each provider and collaborates with nurses to assess their ability to perform essential tasks such as manual transfer techniques. All of that information is fed into its matching engine, which speeds up the process of finding caregivers for families and patients.

Meanwhile, in the United Kingdom, Birdie is developing software tools to assist caregivers, such as those that reduce administrative costs and enable real-time caregiver check-ins and medication-related notifications. The startup’s goal is to provide more personalized and preventative care so that adults can age in place for longer periods of time.

Because of changing family structures, elderly people all over the world have become increasingly isolated, which is a difficult problem for technology to solve. However, Papa, an on-demand senior assistance and companionship platform, demonstrates that addressing loneliness in the elderly can translate into a profitable business model.

The Miami-based startup, which now has a presence in 27 states, announced last month that it had raised $150 million in Series D funding, led by SoftBank Vision Fund 2, just seven months after a $60 million Series C round.