Globally, the ageing population is increasing at an unprecedented rate. By 2060 one in three Europeans will be over 65. This demographic shift presents a challenge as well as an exciting commercial opportunity as the Silver Economy emerges as a new market. Innovative technological approaches are needed that cater to the needs and aspirations of older adults, empowering them to continue to lead independent lives and play an active role in society, whether that be at home, work, education, or in their community.
The Challenge Prize
The AAL Programme is launching its first Challenge Prize to source innovations in internet connected devices and technologies (Internet of Things) that empower older adults to achieve the quality of life they aspire to, socially and independently.
The innovation should present a business opportunity which improves connectivity between older adults, devices and technologies related to any aspect of their life (e.g., home, social, work, study, transport or services). Innovations must involve older adults in the development and testing of the technology.
The Prize Timeline
The Prize will help the most innovative ideas to develop prototypes and business plans. Fifteen of the most promising applications will be chosen as Finalists and will be invited to a social innovation mentoring academy in Brussels in July, where they will receive expert coaching and support to develop their ideas. Following the Academy the Finalists will be asked to submit a detailed plan of their idea. From these detailed plans, five applicants will be selected who will have the opportunity to attend the AAL Forum in Switzerland in September 2016. One winner will be announced at the AAL Forum, this year in St. Gallen between 26-28 September (www.aalforum.eu) and will be awarded a prize of €50,000.
Source: AAL Europe