Recently on this blog we've dedicated a significant amount of time to discussing why eldercare technology will continue to grow in importance in the coming years. We recently came across another article suggesting that venture capitalists should turn their eyes toward the growing industry targeting adults who are aging in place.
Writing on the website Xconomy, veteran science journalist Victor McElheny detailed the following reasons why investors should add eldercare technology to their portfolios:
They already know how technology can improve health
Many venture capitalists have already put their money into companies that focus on improving the health of individuals. Advances in DNA science and biotechnology have helped people live longer, healthier lives. According to McElheny, venture capitalists can expect to see the same monetary benefits in eldercare as they would in their previous endeavors.
America is older
The latest U.S. Census estimates that there are approximately 44 million Americans over the age of 65. By 2030, this figure will be closer to 72 million. In the United States and nations of similar wealth, it is not uncommon for older adults to live into their 80s or 90s. These people will need solutions to keep them engaged and active.
Helping older adults benefits everyone
We often don't think of venture capitalists as being altruistic, but improving the well-being of older adults can have positive effects on their caregivers.
"A massive demand for innovation lies in those numbers," McElheny wrote. "And the needed changes are not just technological. We need to build organizations that handle the whole period of old age, not just piecemeal but across the board […] We need to organize to help older people live the more self-sufficient, valuable lives they have been given."
Independa's eldercare software platform enables care coordination and social engagement for aging adults and the personal and professional caregivers who support them. Through the Caregiver Web Application and the first and only TV with embedded eldercare technology, all participants in the care circle can easily work together to improve quality of life through features like medication and appointment reminders, as well as connectivity through video chat and Facebook photos and messages. Contact us today through our online form to learn more or request a demo.
