Caretech

→ Tech products for older people need to address distinct challenges. In terms of design, for example, common features like tabs and notification centres may be far from intuitive.

→ Similarly, startups can’t readily rely on social media (or public transport) ads and so may struggle to achieve growth among a cohort of largely atomised people.

→ While most caretech startups are developing services that older people or their carers need, one subgroup is focusing on platforms and products their target group actually wants — and is willing to pay for.

→ These include platforms that match retirees with part-time work, as well as anti-loneliness, entertainment or travel apps.

→ By centralising data on elderly care, startups aren’t just weeding out inefficiencies and errors — they’re also allowing carers to spot signs of illness early, when simpler interventions can be more effective.

→ Some startups are going a step further by using their data for research partnerships to help usher in a new age of preventative care.

→ While many startups in the sector target care providers as their customers, the reality is that most older people age at home — and prefer it that way.

→ Consumer startups are increasingly marketing their tech as a way to increase the comfort and safety of eldery people while they live independently.