MFA Longevity Market Report
News and insights from thought leaders in the longevity economy
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Dear friends and colleagues,
We have sprung forward with our own kind of March Madness as we kick off the conference season! As we finalize the program for the 21st annual What's Next Longevity Venture Summit, we are excited to announce that AgeTech Collaborative is the title sponsor for the event. We are also looking forward to our return to the Fairmont San Francisco on Nob Hill, June 11-12. Our keynote Guy Kawasaki, noted author of Remarkable People and podcast host, will engage and inspire us all. We have a record number of investors attending at all levels - social impact, government, venture, corporate, seed, angel and foundation. As always, attendees will learn about research, trends, investments, and success stories in longevity. Make note of these important deadlines:
Additionally, we will be at the ASA Conference in San Francisco participating in the AgeTech activities next week. And we are co-producing the CABHI Summit 2024 on March 26 (continue reading the newsletter for an exclusive MFA discount). We were happy to participate in the VIBE conference, connecting with organizations and funders focused on the forgotten middle, low-income, and special needs populations. Our presentation, “Innovate for Aging: Scaling New Frontiers in Medicaid," will be available on our website next week.
Enjoy the start of Spring and don’t forget to submit your pitches and nominations!
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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2024 Longevity Venture Summit to Take Place in San Francisco in June
Register today 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.
Don't forget to apply for the two business competitions: the Aging Made Easier Pitch Challenge (sponsored by the AgeTech Collaborative from AARP) by April 13 and MFA's $10K Business Plan Competition by April 30! Finalists of these competitions will present their business plans at the conference in June.
We will also announce the second annual John Hopper Impact Award at the conference, in partnership with Ziegler Link-Age. The award 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. Submit a nomination by April 18!
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Issues, Insights & Innovation: An Exploration of Care Economy Solutions
Issues, Insights and Innovation: An Exploration of Care Economy Solutions is a special report from the What’s Next Longevity Innovation Summit held in December 2023. It synthesizes insights and next steps in six key areas identified by conference attendees: 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. Download the white paper today!
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What's Next Living Longer Better Smarter | |
Episode 71: Finding Help for Your Health – With Spring approaching, it’s time to focus on health! On episode 71 of What’s Next Living Longer Better Smarter, Mary and Fred welcome Mark Opauszky, whose personal health trials led him to develop the Stethophone – an app that may give a big boost to telemedicine. Then, get some important information on new Medicare benefits from Rebecca Kinney, Director of the Office of Healthcare Information and Counseling at the Administration for Community Living.
Check out the full list of What's Next Living Longer Better Smarter episodes.
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What's Next Longevity Deal Talk | |
Episode 24: Deals, Conferences, and More! – On a jam-packed episode of What’s Next Longevity Deal Talk, Mary and Fred welcome Danny Aronson, the CEO of Tuned, a hearing health start-up with disruptive potential that has won a $3.2 million seed extension. Then they are joined by The Perfect Companion co-founder Jon Siegel and the new head of its Nashville expansion, Ed Kelley. With the ASA conference coming up, AgeTech Atlanta's Jeffrey Gray talks about the pitch competition on tap. We also hear from Full Circle founder Virginie Raphael, winner of the inaugural John Hopper Impact Award. Nominations are open now for this year’s award coming up at June’s Longevity Venture Summit. Last but not least, hear details on the coming CABHI global virtual summit.
Check out the full list of What's Next Longevity Deal Talk episodes.
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Funding News
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Carewell, an online retailer for family caregivers, raised $24.7 million in Series B funding led by MBF Healthcare.
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C₂N Diagnostics, a brain health diagnostics company with blood-based tests for Alzheimer’s Disease, received a $15 million investment from Eisai.
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Yurtle, a UK-based insurtech company helping workplaces combat caregiver burnout, raised £1.37 million in Seed funding led by Insurtech Gateway and Mustard Seed Maze.
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Carewell, an online support service for independent caregivers, raised $24.7 million in Series B funding led by MBF Healthcare.
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Hedia, a Denmark-based digital diabetes therapeutics company, raised €3 million in Seed extension funding.
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Elektra Health, a menopause digital health platform, raised $3.3 million led by UPMC Enterprises.
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AARP Shares Political Solutions Needed for Age Bias in the Workplace
One of the best ways for older adults to stay financially secure is to keep earning money in the workplace – something that also can give people social connections and a sense of purpose. The contributions of experienced workers also boosts our economy. But, close to two-thirds (64%) of workers age 40 and up say they have seen or experienced age discrimination in the workplace. AARP is fighting to make sure that workers (and job seekers) are treated fairly and assessed by their qualifications and experience, not their age. Read Nancy LeaMond’s latest blog to learn about proposed federal legislation that would help older adults remain and thrive in the workplace for as long as they want or need.
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Join CABHI and MFA for the CABHI Summit on March 26
Join the Centre for Aging + Brain Health Innovation (CABHI) and guests from around the world for its sixth annual CABHI Summit, co-produced by Mary Furlong & Associates, on Tuesday, March 26. Featuring thought leaders in the fields of aging and brain health, this virtual one-day event will inspire us all to continue improving quality of life for older persons, those living with dementia, and caregivers. If you’re interested in a free exhibitor booth, enter code “FOM” when registering.
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LifeBio Memory Deployed in New York
LifeBio, Inc. continues to make advances with LifeBio Memory, a voice-recording reminiscence therapy app that is capturing an individual’s unique background and care preferences and using machine learning to generate care materials. In 2024, LifeBio Memory will be deployed to capture the voices and the legacy of hospice patients in New York State with collaboration and support from the New York State Office for the Aging, the Association on Aging in New York, and the Hospice & Palliative Care Association of New York State.
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Dennis Jakubowicz Joins Phoenix Hipwear
Dennis Jakubowicz joins Phoenix Hipwear as an Advisor, as the company seeks investment to expand into further senior living communities, protecting residents from fall related hip fractures. Dennis is well-recognized in the senior living industry having served in numerous leadership roles with Pharma, technology solutions, services, resident engagement and training since launching a Senior Living business unit with Bristol-Myers Squibb in 1996.
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Ageless Innovation Continues "Reach Out and Play"
Ageless Innovation's "Reach Out and Play" program, aimed at combating loneliness among older adults through game night events, continues into 2024 with AARP as its title sponsor. The campaign, fueled by positive feedback from participants who attended hundreds of events in 2023, plans to expand its reach with more than a thousand events nationwide in 2024 and new game titles added to its portfolio. Reach out to learn about hosting your own event.
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GetSetUp Election Readiness Initiative
As part of its Civic Pathways campaign to empower older adults to utilize public programs and share their voices to impact change through voting and volunteering, GetSetUp is launching a monthly series in April on Civic Engagement. May will feature Empowering Your Vote. The series will include distinguished speakers like The Honorable David J. Shulkin, MD, Greg Olsen, and others coming on to speak about pivotal issues for older adults like healthcare and aging, ensuring the older voting demographic is non-partisanly well-informed for the upcoming elections.
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Ziegler Releases Snapshot of Senior Living
In Ziegler's first survey of the year, it found that senior living providers increased wages by 3.64%, spending an average of 55.74% of their overall budget on wages and benefits. Learn more here.
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Design for Feeling
Read OdessaConnect CEO Todd Smith’s latest article about designing for feeling. As Smith shares, “Design that doesn’t account for feeling leads to frustration; frustration leads to lack of engagement; therefore there is a direct correlation between design effort and engagement. And in tech as in any product or service, it’s all about engagement.”
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Joe & Bella Partners with Hilarity for Charity
Joe & Bella, an award-winning adaptive-apparel brand, announced a partnership with Hilarity for Charity (HFC), a national nonprofit organization founded by Seth Rogen and Lauren Miller Rogen with a mission to care for families impacted by Alzheimer’s. Joe & Bella will be offering two special HFC versions of clothing items designed collaboratively with the Rogens: a women’s nightgown, named The Lauren, and a men’s button-down shirt, named The Seth. Joe & Bella will donate $10 from every sale directly to HFC. As Seth says, “Let’s kick Alzheimers in the ball-zheimers!"
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Join Botco.ai Webinar on AI and Community Engagement
Botco.ai, a standout in the Google Latino Founders Fund, shined at SXSW's La Startup Casa in Austin, highlighting the vibrant Latinx/e startup scene! And get ready for enhanced city services. Join Botco.ai's webinar on using GenAI to boost city services and community engagement.
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Books, News, and Reports
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On average, senior housing residents live about a week longer than community-based counterparts, but variations in communities exist.
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Shortages of instructors are preventing nursing homes from training desperately needed certified nursing assistants.
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Meals on Wheels can particularly help disadvantaged communities (including those who are black, enrolled in Medicaid, or frail) remain in the community.
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The Senate held a hearing on the renewal of the Older Americans Act.
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