MFA Longevity Market Report
News and insights from thought leaders in the longevity economy
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Dear friends and colleagues,
What a great start to 2024! We kicked off the year with a client and networking event at the Golden Gate Yacht Club in San Francisco featuring amazing investors, entrepreneurs, and strategic partners. NIA brought seven grantees and we heard from many other companies achieving milestones. We then participated in investor events with Ziegler and Capital One/Triple Tree where we learned the priorities in funding for med tech, age tech and bio/pharma. From there, we went to CES in Las Vegas where we were part of the AgeTech Collaborative from AARP (ATC) pavilion. ONSCREEN, an MFA client, won the award in AARP's After Dark pitch competition, and we were able to interview many exciting companies for our What's Next Living Longer Better Smarter podcast.
We are deep into the planning of our 21st Longevity Venture Summit. We sold out the past two years and expect to again. We will have investors at all levels - angel, venture, corporate, social impact and global. And we are very pleased to announce ATC as a title sponsor and Amelia Hay as a judge for the pitch competition.
New market overviews and reports about the market are in, including Laurie Orlov’s 2024 Market Overview and the World Economic Forum’s principles to support aging societies. Keep an eye out for our upcoming report on findings from the “unconference” session at the Innovation Summit.
Wishing you a year filled with peace, good health, friendship, and great outcomes for the older adults you serve!
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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What's Next Longevity Innovation Summit a Huge Success!
The sold-out What's Next Longevity Innovation Summit was a huge success, with a variety of start-ups, venture capital, nonprofits, and others joining. The "Unconference" session, where we got input from attendees on priorities going forward was a huge hit. Keep an eye out for an upcoming report on this session!
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Save the Date!
Planning is in full swing for the What's Next Longevity Venture Summit, taking place June 12-13. Shout out to our sponsors who help make our events possible: 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, and Ziegler Link-Age.
If you would like to learn more about sponsoring this event, please contact us at whatsnextlongevity@gmail.com.
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What's Next Living Longer Better Smarter | |
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Episode 62: Great Gifts and Gadgets – When it comes to some unusual gift suggestions for older adults, who better to chat with than an orthopedic surgeon? In this episode, Mary and Fred are joined by orthopedic surgeon Dr. Carmen Quatman from Ohio State’s Wexner Medical Center.
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Funding News
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Portfolia announced that it invested in Toi Labs, known for its AI-powered toilet seat, through its Active Aging & Longevity II Fund.
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Crunchbase compiled a list of the top areas for longevity funding and highlighted several senior-focused startups that raised significant funding in 2023.
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RxCell, a Singapore-based biotech company and forerunner of cellular therapeutics for age-related diseases, raised $4.6 million in funding led by DMR Global Venture LLC and Regenosis.
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Durin Technologies, an innovator in neurodegenerative diagnostic testing for Parkinson's and Alzheimer's disease, raised $3.5 million in funding led by Breakthrough Diagnostics, LLC.
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SupportPay, a platform to manage finances and scheduling for caregivers, divorced, single, step, and co-parents, raised $3.1 million in Seed funding led by HearstLabs.
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Devoted Health, a Medicare Advantage tech startup that links older adults to health plans and care, raised $175 million in Series E funding led by Fearless Ventures, Highbury Holdings, Stardust Equity, GIC, Maverick Ventures, and The Space Between.
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Older Adults' Impact on Iowa Primaries
The first nominating contests of the 2024 presidential cycle concluded this past week in Iowa. Dive into the results of this year’s Iowa Caucuses and learn more about the outsized impact of older voters in a new blog co-authored by Nancy LeaMond, AARP’s Chief Advocacy & Engagement Officer, and Brad Anderson, AARP Iowa’s State Director, here.
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UpLyft Has Highest Revenue Month Ever
In December 2023, UpLyft achieved its highest revenue month since inception and 1st profitable month in company history. The company ended 2023 with ~375% year-over-year revenue growth from 2022 and expanded its hardware-as-a-service sales and distribution model for its novel independent-transfer and "zero-lifting" patient bedside transfer system for nurses, caregivers, and people with limited mobility to use in both home health and senior living facility environments.
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TCARE Continues to Expand
TCARE has expanded its existing partnership with the City of Chicago Area Agency on Aging (AAA) to increase the support of informal caregivers. TCARE has also brought on Kristen Griffis as its VP of Partnerships to expand the effort of creating innovative collaborations to ultimately support more informal caregivers nationwide. Kristen joins TCARE after spending the last 16 years as the CEO of Elder Options, one of the largest Area Agencies on Aging in the nation.
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Apply for CABHI's MC2 Captial
Early stage Canadian AgeTech companies can apply by January 22, 2024 for CABHI’s Mentorship, Capital, Continuation (MC2) Program to receive up to $500,000 CAD in funding plus acceleration services to help validate or grow their business.
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Ziegler LinkAge
The latest Ziegler CFO Hotline survey identified trends regarding the future of skilled nursing. The survey found a majority of respondents experienced improvements in skilled nursing occupancy since the low-point of the pandemic. However, about ⅓ of respondents reduced their number of skilled nursing beds.
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Books, News, and Reports
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The John A. Hartford Foundation (JAHF) has partnered with WebMD to release a series of age-friendly care articles on palliative care, advice for caregivers, and dementia care.
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The White House announced that American Rescue Plan Act funding for home- and community-based services totaled about $37 billion.
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AARP’s new report looks at sandwich generation caregivers.
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The Rosalynn Carter Institute released a report about how employers can support caregiving employees.
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Read Laurie Orlov's 2024 Market Overview of Technology for Aging.
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The World Economic Forum released its principles to improve outcomes for aging societies.
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