MFA Longevity Market Report
News and insights from thought leaders in the longevity economy
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Dear friends and colleagues,
Imagine being 63 and starting a company that would provide employment for more than 700 older adults in the insurance industry. That is the story of Sharon Emek, founder of WAHVE. Learn about this and more in our latest podcast, which also includes new resources from AARP.
Sharon's case study is just one of the stories you will hear about at our What’s Next Longevity Venture Summit, June 11-12. This will be our 21st summit and we will be in San Francisco at the Fairmont Hotel. Investors at the seed, angel, social impact, and corporate stages of growth will be in attendance. We are excited to have the AgeTech Collaborative from AARP as the title sponsor, CABHI as our platinum sponsor, and more. It’s not too late to join as a sponsor!
It's so exciting to see in-person events return in force. I will be speaking at the ViVE conference in Los Angeles and at the ASA conference in San Francisco, so please find me if you’ll be there! We are learning a lot about the ecosystem and the trends as companies go to market with new channels and global opportunities.
I hope to see you soon!
Warmly,
Mary
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Table of Contents:
- MFA Events
- MFA Podcasts
- Funding News
- Corporate Updates
- Books, News, and Reports
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Just released! Issues, Insights & Innovation: An Exploration of Care Economy Solutions
MFA is excited to release Issues, Insights and Innovation: An Exploration of Care Economy Solutions, a special report from the 2023 What’s Next Longevity Innovation Summit. This white paper synthesizes insights and next steps in six key areas identified by conference attendees of the Summit in December: Fraud and scams targeting older adults; AgeTech assessment; How policy can drive investments and funding in longevity; Supporting and increasing the paid and unpaid care workforce; Connecting the dots between entrepreneurs, nonprofits, and providers; and Supporting senior housing – intergenerational, aging in place, and senior living.
Click here to download the white paper
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2024 Longevity Venture Summit to Take Place in San Francisco in June
Registration is now open for the What's Next Longevity Venture Summit, taking place June 11-12. The theme for the Summit is Net New: Investment, AI, & Innovation in the Longevity Marketplace. This year we are developing sessions and selecting speakers that will ensure our continued commitment to the collaboration of forward-looking entrepreneurs and investors.
We are now accepting applications for our $10K Business Plan Competition. Finalists of this competition will present their business plans at the conference in June. Click here to learn more and submit an application. The deadline to submit is April 30.
Also as part of the conference, in partnership with Ziegler Link-Age, we will hold the second annual John Hopper Impact Award, which recognizes an exceptional entrepreneur or first-time fund manager who has introduced an innovative solution, technology, or fund thesis focused on improving the independence, quality, and cost of care for the aging population. Click here to learn more.
We are grateful for our sponsors, which include AgeTech Collaborative from AARP (title sponsor), CABHI (platinum sponsor), HumanGood, Claris Healthcare, Brya, The SCAN Foundation, TCARE, Momentra, The Perfect Companion, Phoenix Hipwear, GetSetUp, Ageless Innovation, Everest Health Partners, Discover Live, Vivid-Pix, Keen Insurance Services, Care Daily, Toi Labs, USAging, WAHVE, and Ziegler Link-Age.
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What's Next Living Longer Better Smarter | |
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Episode 70: Finding Work at Any Age – Keep working? For many older adults, there are many benefits including economic, social, and health, to name a few. On this episode, Mary and Fred are joined by Carly Roszkowski, VP of Financial Resilience Programming at AARP, and Sharon Emek, founder and CEO of Work at Home Vintage Experts (WAHVE), to discuss finding work at any age.
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Episode 69: Trends and Tech – From the AgeTech and AI trends to watch this year with Laurie Orlov to amazing new tech from Lotus Labs and Whispp, this is a must-see episode! The founders join Mary and Fred to show a ring that lets you point to control lights and more and an app that can restore a person’s voice.
Check out the full list of What's Next Living Longer Better Smarter episodes.
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Funding News
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Foodsmart, a telenutrition company for chronic conditions, raised $10 million in funding led by Advocate Health, Memorial Hermann Health System, and Intermountain Health.
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Mesenbio, a company developing a novel treatment for arthritis, raised £1.4 million in funding led by DSW Ventures and NG Bio alongside grant funding from Innovate UK.
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Isaac Health, a digital health company offering virtual and in-home clinical services for dementia, secured $5.7 million in Seed funding led by Meridian Street Capital and B Capital.
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Accompany Health, which helps low-income individuals apply for benefits, government programs, care coordination, and advance care planning, raised $56 million in Series A funding from Venrock, ARCH Venture Partners, IVP, Evidenced and Granite Capital Management.
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Medicare brokerage company Spark raised $25 million in Series B funding led by Viewpoint.
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AARP Supports Credit for Caring Act
America’s 48 million family caregivers are the backbone of our nation’s care infrastructure, doing everything from shopping for groceries and managing medications to organizing financial matters, and much more. Despite their many contributions, their financial, physical, and emotional needs often go unmet. That’s why AARP is supporting the Credit for Caring Act, recently introduced bipartisan, bicameral legislation that would provide much-needed financial relief for family caregivers. Learn more in AARP’s Chief Advocacy & Engagement Officer Nancy LeaMond's new blog.
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Intuition Robotics Unveils ElliQ 3
Intuition Robotics unveiled a new version of their AI powered companion robot called ElliQ 3 during CES 2024. The latest version is streamlined into a lighter and smaller form factor powered by new software that blends the latest in generative AI LLMs with the unique ElliQ character that forms a relationship with older adults and has demonstrated a 95% reduction and loneliness and improvement in wellbeing among older adults in New York State. Learn more about the new ElliQ 3 via Techcrunch.
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Empowering Older Adults to Fight AI Scams
Exciting news from the front lines in the battle against digital deception! Recognizing the urgency of the issue, the National Security Council convened a round table at the White House, where GetSetUp was invited to present solutions to key stakeholders, including the heads of the FCC, FTC, and National Security Council, on its upcoming work to help empower older adults. GetSetUp is developing a comprehensive class series and resources to equip individuals with the critical knowledge and tools needed to navigate and thwart AI-driven scams, which will be particularly important in the upcoming election.
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1843 Capital Partner Featured on Bloomberg News.
1843 Capital Partner Tracy Chadwell was featured on Bloomberg Television Closing Markets segment discussing the opportunities around older adults. Watch the segment, which starts at 1:15:20, here.
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Botco.ai Selected as 10 Cloud Startups to Watch
Botco.ai is proud to announce it was listed among the 10 cloud startups to watch in 2024! Additionally, you can watch GenAI in 2024: 5 Bold Predictions for Enterprise Applications on- demand to learn about advancements that are set to revolutionize interactions, decision-making, and data utilization.
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OdessaConnect Partners With AccordCare
AccordCare, a home healthcare provider based in Atlanta, has partnered with OdessaConnect to deliver virtual care services through the largest screen in the home, the TV. OdessaConnect was designed in collaboration with geriatric specialists to be simple and safe for older adults. “AccordCare has partnered with Odessa to improve clinical outcomes in the home. Our care teams use Odessa to communicate with the clients through the TV and the clients love engaging with family and friends through Odessa.” Learn More!
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Ziegler Releases Snapshot of Senior Living
In its recent senior living finance newsletter, Ziegler offered a snapshot of senior living statistics. Some notable findings include:
- Lifeplan community average FTEs per resident ranges from 0.40 in assisted living to 0.76 in skilled nursing.
- The total number of lifeplan communities has declined to 1,911 from a high of 1,963 in 2016, largely due to communities removing a level of care.
- The average annual cost for independent living has increased by 5% in 2024.
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