Rise of the "Grey" Market (Video)

Sombit Mishra

This is a thoughtful discussion on the future of innovation in the aging market. The event was sponsored by Redstar Ventures in December 2011. It features Jody Holtzman, Senior VP of Thought Leadership at AARP; Frank Moss, Former Director of the MIT Media Lab; David Rose, Founder of the Vitality "GlowCap"; and Dr. Joseph Coughlin of the MIT AgeLab.


 

 A few key takeaways: 

 1) "Aging in Place" solutions have great potential to disrupt the market.  Now more than ever, older adults want to stay at home as long as possible and avoid the costlier, more restrictive options of the past, namely nursing homes and long-term care facilities.

2) Simplicity will win—it is important that innovation fits with routine behaviors/patterns of life.  Attempts to drastically change behavior or require great effort on the part of the user will likely fail.  

3) The trend is that more people will continue to work well into their retirement years.  Solutions must address not only aging in the home, but aging in the workforce.