MFA Longevity Market Report
News and insights from thought leaders in the longevity economy
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Dear Colleagues and Friends,
Happy Saint Patrick’s Day! We have a lot of exciting news to share with you this month as the market is buzzing with activity, and signs of spring are in the air. I’ve had both of my COVID shots, and I’m feeling a renewed sense of optimism. To celebrate St. Patrick’s Day, I am sharing with all of you my Irish Soda Bread Recipe at the bottom of this newsletter.
The Longevity, Health & Innovation (LHI) Conference is finally here! LHI is committed to facilitating conversations that spark early-stage deals across drugs, devices, diagnostics, and digital health that save lives and change the world through healthcare innovation. Be sure to register for this event on March 18-19, 2021.
We are also co-hosting the CABHI Summit 2021: Accelerating Innovation + Amplifying Impact on Wednesday, March 24 and Thursday, March 25. Continue reading this newsletter to learn more about the exciting opportunities to network and collaborate with the leading experts and thought leaders in the aging and brain health sector.
Warmly,
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INDEX:
- Updates from Mary Furlong & Associates
- New Podcast Episode for What's Next: Living Longer, Better, Smarter
- What’s Next Longevity Venture Summit
- What’s Next Longevity Business Academy
- Corporate Updates
- Books, News, Reports, and Irish Soda Bread!
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In our March podcast, DC insider Bob Blancato, President of Matz, Blancato and Associates, illuminates the implications of the recently passed American Rescue Plan on older adults and their caregivers. Additionally, Beth Sanders, founder and CEO of LifeBio and James Hamilton, CEO of VitalTech, share their perspectives on what it could mean for small businesses serving older adults. Watch or listen to learn how the plan extends far beyond the $1,400 checks to help improve the lives of older Americans.
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Join us for the What’s Next Longevity Venture Summit—June 16-17, 2021
This event brings together entrepreneurs, leaders in the field of aging, and the venture
community to create a unique forum to explore, share, and design products and services that will dominate the longevity market now and in the future. In addition, this program is designed to teach entrepreneurs how to think through a business. It is also home to the $10K Business Plan Competition, which will focus on telehealth, tele-fitness and mental health. Learn more here.
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Your mini master class in the longevity market starts April 20. Don't miss out!
The What's Next Business Longevity Academy starts April 20 and runs for 8 weeks through June 8. This year's theme is "How Resilience Can Fuel Growth Strategies in the Longevity Market" with sessions covering key topics such as funding opportunities from the new government stimulus package, Medicare Advantage reimbursements, NIA grant funding, customer-centered design and e-commerce strategies, best practices in pilot programs, how to work with incubators such as AARP Innovation Labs, how to manage strategic business pivots, and more. Additionally, registrants get the bonus of Business Boot Camps, targeted skills-building classes taught by thought leaders in aging.
Cost is $99 for all sessions and boot camps.
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The Social Safety Net Now Includes Collective Connectivity
AARP has partnered with Older Adults Technology Services (OATS) to help address one of the many issues thrown into the spotlight by the coronavirus pandemic, access to technology and digital literacy for older Americans. 42% of 65+ Americans lack high speed internet access which means millions of older adults are having difficulty working from home, staying connected to friends and family, and scheduling tele-visits and COVID vaccine appointments. Steps are being taken to combat these challenges, but as AARP’s EVP & Chief Advocacy and Engagement Officer Nancy LeaMond writes, more must be done to expand these initiatives long after the pandemic is over. To read more about how AARP is helping older Americans navigate the digital world and address connectivity issues, visit AARP.
Dr. Jiten Chhabra will be speaking at this Forbes-AARP event, "On the Verge: Why Supporting Working Family Caregivers is Good for the Economy." For more information click here.
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iN2L Announces Strategic Growth Investment from Vista Equity Partners
iN2L, the leading provider of person-centered digital engagement solutions for the senior living market, announced a strategic investment from Vista Equity Partners ("Vista"), a global technology investor focused on enterprise software, data and technology-enabled businesses. The growth capital will help iN2L further scale and accelerate its mission to meaningfully impact the lives of older adults through industry leading technology-enabled engagement solutions. iN2Ls existing investors, the healthcare growth capital firm Hughes & Company and the strategic healthcare investment firm Chicago Pacific Founders, will continue as minority investors in the company.
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MemoryWell Secures $2.5 million in Funding
MemoryWell announced that it has secured $2.5 million in new funding in a Series Seed round. The funding will scale its platform and build a rating system for social determinants of health. Boston-based Argon Ventures is leading the round, which was oversubscribed. MemoryWell is also partnering with other notable social impact funds, strategic health care investors, and experienced backers focused on the applied use of deep-tech solutions.
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GetSetUp's New Features Are Customized Based On Learners' Feedback
GetSetUp's new features mean that older adults can tune into GetSetUp classes around the clock, whether that is to catch a full live class or have a refresher class on in the background. Learners like Trina and Rosie are loving these new features and the opportunity to participate in GetSetUp thanks to the partnership with their local YMCAs. Now over 56,000 older adults in Michigan have gotten connected with learners across the country and globe thanks to the Michigan Department of Health and Human Services partnership. Our GetSetUp community thrives on learning so we have great new features and ways to interact with the GetSetUp community coming throughout the next weeks. Join in and see why learners from around the globe come to the GetSetUp community to share, learn, create, and feel empowered in a friendly and welcoming virtual community with peers!
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Naboso Launched a Crowd Equity on StartEngine To Support Neuropathy Research
Naboso launched a crowd equity raise on StartEngine to raise funds to support our research and FDA approval process for neuropathy. Naboso has developed a proprietary textured material that has proven to have an instantaneous effect on enhancing movement. Using their unique material, they’ve manufactured sensory insoles, mats, and flooring — all of which activate the nervous system through stimulation of the feet. While continuing to innovate within the health and wellness space, Naboso continues to positively impact the lives of those living with chronic neurological conditions along with elite level athletes and everyone in-between.
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Welcoming MFA’s New Client Vitality Society!
We welcome Meredith Oppenheim, Founder and CEO of Vitality Society as a new client. Vitality Society is a modern and engaging online community that connects people 60 and better who refuse to be defined by age. The online platform provides a desirable and impactful community that attracts and appeals to people 60 and better by tapping into their vitality, curiosity, and creativity. Since its Jan 2020 launch, Vitality Society has rapidly grown given members benefit from robust content and top-tier coaching, as well as a supportive community and attentive concierge. Subscribers who pay for unlimited access to live fitness, wellness and enrichment classes attend on average five hours each week. Given this level of engagement, Vitality Society is actively forming partnerships with companies spanning multiple industries seeking to reach and attract the meaningful mature market. We will be working with Meredith to form strategic partnerships and investor relationships.
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Newly Released AI-Powered Voice System Offers Instant Wireless Access to Improve Lives of Aging Adults
Constant Companion, a fast-growing technology company that integrates its patented, voice-operated, AI-powered platform into popular smart speakers, has launched Companion 4.0. The company’s purpose-built solutions for older adults and their caregivers facilitate better communication and monitoring of this growing at-risk population, keeping people engaged, connected, and protected.
The highlight of this just-released technology is a Smart Router which offers users a plug and play solution for reliable, predictable connections no matter where they live. Simply plug it in, and within 60 seconds, it locates the cellular tower with the strongest connection from over 200 networks. To learn more visit ConstantCompanion.com or read the full article.
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LifeBio participating in Innovator's Pitch Challenge (IPC) at the Longevity, Health & Innovation Conference
LifeBio, a leading agetech company that captures life stories for better health, has been selected to participate in the Innovator's Pitch Challenge (IPC) at the Longevity, Health & Innovation conference. LifeBio will highlight two recent innovations during the pitch,
MyHelloTM, a tech-powered, HIPAA-compliant, scalable live phone intervention to address loneliness and to increase social engagement, resulting in higher patient satisfaction; and
MemoryTM, a groundbreaking life story app for memory care, under development currently with an MVP created, which incorporates artificial intelligence (AI) with natural language processing to improve engagement and person-centered care for people living with Alzheimer's or other related dementias.
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CABHI Summit 2021: Accelerating Innovation + Amplifying Impact
Network and collaborate with leading experts and thought leaders in the aging and brain health sector, such as the launch of a new global community of older adults and caregivers, plus the largest pitch competition in the sector at $1.5M, featuring leading-edge Canadian agetech, healthtech, and neurotech solutions. Interspersed throughout the day will be interactive and engaging activities, such as musical performances, dance, and other demos, with opportunities to win prizes.
The conference will feature four phenomenal author keynotes and 60+ speakers, including fireside chats with authors André Picard, Moira Welsh, and Ashton Applewhite; and Richard Lui joins playwright and actor Jill Daum and executive and former politician Lisa Raitt to discuss their first-person experiences as caregivers.
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Don’t underestimate the ability for seniors to connect!
The Pew Research Center recently found that 85% of seniors 65 and above own cell phones. Among this same group, 46% use smartphones. This research is powerful to understand how the senior community has evolved to welcome smartphone connection into daily life.
New services like Listeners On Call provide a senior-friendly mobile app that is easy to navigate and connect when looking for an empathetic Listener. No matter what Callers are facing, the service can connect them to a trained Listener in a matter of minutes. Callers can also schedule calls for regular connection. The service is designed to help confront the epidemic of loneliness our country – and seniors in particular – are facing.
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Books, News, Reports, and Irish Soda Bread! |
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In Think Again, Adam Grant examines the critical art of rethinking: learning to question your opinions and open other people’s minds, which can position you for excellence at work and wisdom in life.
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Hacking Life Shifts reports key insights from a groundbreaking study of how three generations of Americans are navigating profound changes along the aging journey.
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In the News
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The American Rescue Plan includes over $12 billion in funding for home and community-based services. This will allow more seniors and people with disabilities to live in their own homes instead of nursing homes.
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Nearly 4 in 10 women are considering either scaling back their work hours or leaving the workforce due to increased caregiving responsibilities during the COVID-19 pandemic which could potentially put them behind on saving for retirement.
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Mon Tonton is launching the first-ever community platform designed for older adults to help them connect for support and companionship in later life. It also announced a partnership with the Red Hat Society, a Women’s social club for women after fifty.
Funding News
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Cohort, a care management platform centered around at-risk populations, scored $11 million in Series B funding in February 2021. F-Prime Capital led the round, with participation from Town Hall Ventures.
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Aunt Peggy's Irish Soda Bread (from Mrs. Dolan)
- 3 cups all purpose flour
- 1 cup sugar
- 1 cup buttermilk
- 1 tsp baking soda
- 1/2 tsp salt
- 3 tbs caraway seeds
- 1 1/2 cups raison
Grease black iron frying pan, put in preheated oven with no cover at 350 degrees for approximately 1 hour. Take one toothpick and check. If soft, cook longer. About 45 minutes.
Put on rack to cool - like cake and when cool flip over. Enjoy!
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