Would You Miss On a Trillion Dollar Emerging Market?
ITW Raissa Hacohen - Managing Partner at Longevity Venture Partners
The term "silver economy" refers to the economic opportunities and benefits associated with an aging population, particularly in developed countries. According to the United Nations, the number of people aged 60 and over is expected to double by 2050, reaching 2.1 billion globally. This trend presents significant economic and social challenges, but also opportunities for innovation and growth.
One aspect of the silver economy is the development of "silver technologies" - products, services, and solutions designed to help older adults age well. These technologies can address a range of needs and challenges including health, mobility, communication, home automation, and socialization.
One area of rapid development in silver technologies is healthcare and medical devices. With the aging of populations comes an increased demand for medical services and assisted living technologies. Remote health monitoring and telemedicine services are becoming more common, allowing older adults to receive medical care and support in their homes more easily.
Another area of growth is in mobility assistance technologies, such as electric scooters and stairlifts, which help older adults maintain their independence and mobility. Smart home automation and safety devices, such as fall sensors and voice-activated assistants, can make daily living easier and safer for seniors.
In addition to supporting the physical needs of older adults, silver technologies can also facilitate socialization and connection. Social media and communication platforms are increasingly used by seniors to stay in touch with family and friends, and virtual reality and gaming technologies are being developed to provide seniors with social and entertainment options.
The development of silver technologies is not just driven by social responsibility, but also by potential economic benefits. The market for silver technologies is projected to reach trillions of dollars in the coming decades, presenting significant opportunities for investment and growth.
However, there are also challenges associated with the silver economy and silver technologies. One challenge is ensuring that these technologies are accessible and affordable to seniors from all socioeconomic backgrounds. Another challenge is ensuring that these technologies are developed with the input and needs of older adults in mind, to ensure that they are effective and user-friendly. Another point is the difference in the health system (laws and regulations, social welfare, health insurance and reimbursement policy) of each country making the spread of innovation a challenge.
The silver economy and silver technologies are rapidly evolving fields with significant potential economic and social benefits. These technologies can help older adults age well, maintain their independence, and stay connected with their communities. The development of silver technologies presents significant opportunities for innovation and investment, but also requires careful consideration of accessibility and user needs.
I read in the news that an emerging VC raised $30m to invest in silver tech startups.
Curious to know more, I invited Raissa Hacohen, Managing Partner at Longevity Venture Partners. In this new episode of e², discover her WHY, vision and how she invests and supports founders.
Raissa Hacohen began her career in the venture capital industry working for Jerusalem Venture Partners. She then worked for NDS, a multinational technology company focusing on video security. In 2012, Cisco bought NDS, and Raissa served as a business operations manager consulting for ~$150 million of Cisco’s business across Europe and the Middle East.
In 2016, she founded her first digital health startup. After moving to the investment side, she established and ran a family office, HUR, that works with private funds and corporations to build tailor-made early-stage portfolios.
She built Longevity Venture Partners with the vision to create a smart ecosystem to commercialize early-stage medical technologies and bring them to market.
Raissa completed her undergraduate degree at Brown University in 2006 and her MBA at Hebrew University in 2013. She currently teaches at Hebrew University and Bezalel.
I would like also to warmly thank Stephane Nasser, cofounder-CEO at OpenVC for his precious help in the preparation of this ITW.
OpenVC is a unique platform enabling founders to connect with a warm introduction to the right investors.
E² - Épistémê Entrepreneur