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Overview
GuideWell is interested in growing health technology ventures that have the opportunity to solve big problems and reach large markets in the U.S. health care industry. For the Spring 2020 cohort, we are seeking innovative technology companies with novel approaches that enable America’s rapidly growing senior population to “Age in Place”.
Topic Area
The Centers for Disease Control and Prevention defines Aging in Place as “the ability to live in one’s own home and community safely, independently, and comfortably, regardless of age, income, or ability level.”
For the Spring 2020 cohort, GuideWell is seeking innovative technology companies with novel approaches that enable America’s rapidly growing senior population to “Age in Place.”
Seniors strongly prefer living at home, even in cases where physical or cognitive decline makes it difficult to live independently. There are many studies that show seniors are happier and healthier if they’re able to remain in their homes instead of moving into assisted care facilities.
Today most assistance is provided by family members, including spouses, partly due to the high costs of facility-based long-term care. In addition, there will be fewer family members available to help the next generation of older adults because of the rise in single-person households as well as the number of adults living without children.
Did you know?
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According to the U.S. Census Bureau, the number of Americans over 65 will grow from 35 million in 2000 to over 71 million by 2030. This translates to almost 20% of the US population being over age 65 by 2030.
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According to Harvard’s Joint Center, the number of households with at least one senior having a self-care disability will reach 12 million by 2035.
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The median monthly cost for a home-health aide working five days per week is $3,813, which is unaffordable for many seniors or their families.
Topic Area
The Centers for Disease Control and Prevention defines Aging in Place as “the ability to live in one’s own home and community safely, independently, and comfortably, regardless of age, income, or ability level.”
For the Spring 2020 cohort, GuideWell is seeking innovative technology companies with novel approaches that enable America’s rapidly growing senior population to “Age in Place.”
Seniors strongly prefer living at home, even in cases where physical or cognitive decline makes it difficult to live independently. There are many studies that show seniors are happier and healthier if they’re able to remain in their homes instead of moving into assisted care facilities.
Today most assistance is provided by family members, including spouses, partly due to the high costs of facility-based long-term care. In addition, there will be fewer family members available to help the next generation of older adults because of the rise in single-person households as well as the number of adults living without children.
Did you know?
-
According to the U.S. Census Bureau, the number of Americans over 65 will grow from 35 million in 2000 to over 71 million by 2030. This translates to almost 20% of the US population being over age 65 by 2030.
-
According to Harvard’s Joint Center, the number of households with at least one senior having a self-care disability will reach 12 million by 2035.
-
The median monthly cost for a home-health aide working five days per week is $3,813, which is unaffordable for many seniors or their families.
Criteria
A critical goal for the 2020 Scale Up Accelerator is for GuideWell to identify a diverse portfolio of innovative approaches that enable seniors to maintain a healthy, happy lifestyle within their home and their community. GuideWell is particularly interested in solutions around the following themes:
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Novel approaches to increase the affordability and accessibility of health care for seniors that are economically challenged, or that are cared for by a working family member
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Easy-to-use solutions that enable seniors to improve overall physical and emotional wellness
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Solutions that connect seniors into their communities
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Solutions that empower seniors to easily conduct lifestyle tasks in a manner that eases the burden on family members caring for them
Eligible companies must be able to meet our minimum “Scale Up” requirements. A Scale Up is a growing technology startup that has clear traction in its chosen marketplace. Traction can be demonstrated by one or more of the following:
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A minimum of $500,000 in revenue earned for 2018
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A minimum of $500,000 of capital raised
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Verifiable (reference required) customer pilots
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Accelerating product adoption (especially for consumer-focused solutions)
Important Dates
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Feb 24: Aging in Place Innovation Showcase (Orlando)
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March 18 - April 1: Ongoing virtual mentoring sessions, weekly virtual workshops, pitch preparation
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Check Out Our 2019 Accelerator Program
2019 Summer Scale Up Cohort
About GuideWell Innovation
GuideWell Innovation, a subsidiary of GuideWell Mutual Holding Corporation (GuideWell), drives collaborative innovation for the family of forward-thinking companies that make up GuideWell. Headquartered in Orlando’s Lake Nona Medical City, GuideWell Innovation focuses on transforming the health system into a more integral and useful part of people’s everyday lives by fast tracking the delivery of next generation health solutions. For more information, visit GuideWellInnovation.com.