The AgePower Tech Search, which offers a 6-month real-life consumer test environment for up to four qualifying companies’, start-ups’, or inventors’ technology, will close for submissions on October 31, 2013.
Minneapolis/St. Paul, Minnesota (PRWEB) October 22, 2013
The AgePower Tech Search, which offers a 6-month real-life consumer test environment for up to four qualifying companies’, start-ups’, or inventors’ technology, will close for submissions on October 31, 2013. AgePower, which was launched in August, seeks to improve the aging experience by pairing companies’ prototype high- or low-tech technology with user-feedback of senior housing and services customers and employees. AgePower’s objective is to pair consumer feedback and technologists to help emerging technology products make lives better and move to market faster.
AgePower differs from “incubators” or “accelerators” in that its focus is on transforming the future of aging and providing real-life test environments, along with access to business and invention experts in key areas necessary to fueling a successful new venture.
AgePower is a collaboration of Ecumen, one of the country’s top 20 largest nonprofit senior housing organizations, and MOJO Minnesota, an innovation cooperative and advocacy force working to fuel entrepreneurship and a culture of innovation. The cooperative features leading Minnesota-based entrepreneurs, venture capitalists, angel investors, business advisors and engineers.
The world’s massive demographic shift represents substantial innovation opportunity. Today 900 million people in the world are over age 60. By 2050 that number will have grown to 2.4 billion. It’s not just the sheer size of those numbers, but these demographic realities impact every aspect of living. The “new normal” of a rapidly aging world needs new solutions.
The AgePower Submission Process
AgePower will take submissions until Oct. 31, 2013 at agepower.org. A joint Ecumen and MOJO committee will select up to four technologies/inventors to receive a six-month field trial among Ecumen clients, residents and employees. In addition, finalists will gain access to the expertise of leading business advisors, entrepreneurs, venture capitalists, angel investors, engineers, and others who comprise MOJO Minnesota.
This combination is designed to help expedite a move to market either through a company’s own investment, outside investment, acquisition by an investor or other means. In return, Ecumen and MOJO will receive a small equity stake to align interests with the tech innovators for market success and dispersion of new, life-enhancing technologies.
Test environments include in-home settings, assisted living communities, Ecumen sites providing Alzheimer’s and dementia care, and clinical settings with short-term physical rehabilitation services and/or more intensive long-term care.
About Founding Partners
Ecumen is one of the nation’s top 20 largest non-profit providers of senior housing and aging services. Based in Shoreview, Minn., Ecumen operates in 35 cities in Minnesota, North Dakota, Wisconsin, Nebraska, Idaho and Tennessee, providing a variety of senior housing options and services including independent living, assisted living and long-term care communities as well as at-home and community-based services. Dedicated to empowering individuals to lead richer, fuller lives, Ecumen prides itself on innovation and radically changing the way aging is viewed and understood. Ecumen, founded more than 150 years ago, was named “Best Places to Work” eight times by the Minneapolis/St. Paul Business Journal. Follow Ecumen @Ecumen_org or at http://www.ecumen.org.
MOJO Minnesota is an innovation cooperative and advocacy force working to fuel entrepreneurship and reignite Minnesota’s culture of innovation. MOJO includes leading Minnesota entrepreneurs, venture capitalists, angel investors, business advisors and engineers passionate about creating jobs and economic growth through the power of Minnesota-based innovation-driven startups.