Tech has the ability to improve the daily lives of people, especially as they age. Now, one new program hopes to tap into that potential.
Recently, HAX announced the launch of an accelerator initiative aimed at senior tech, as reported by TechCrunch.
HAX, a San Francisco and Shenzhen-based accelerator, collaborated with Centrica, the energy company behind Hive Link. The new initiative is aimed specifically at startups designing tech for people over the age of 65.
On their website, HAX said the program’s intention was to “find the next generation of connected solutions to further independent living, improve communication, and increase the quality of life for people as they age, their caregivers and loved ones.”
Each team selected will receive $250,000 in funding. In addition, TechCrunch reported they will have access to mentoring, office space, education, and more in exchange for equity in the companies — which the outlet described as a standard setup for HAX.
Investing in tech aimed at helping seniors is a smart move. Older people are projected to outnumber children in the United States, according to the Census Bureau. By 2030 specifically, every 1 in 5 residents will be of retirement age. As the population ages, tech has to start accounting for that demographic.
“HAX has invested in over 200 high-tech startups over the past six years, and we were looking for the right partner to tackle this immense challenge,” partner Kate Whitcomb said, according to TechCrunch. “We want to find the right sensors, service robots, or diagnostic devices that can help us age gracefully, and avoid $100 problems turning into $100,000 ones.”
According to TechCrunch, anyone interested in applying just needs to have a prototype of their project, and the willingness to relocate to San Francisco or Shenzhen.
HAX has opened applications on their website.