One of the more powerful signs of confirmation for our investing themes is when a company makes a strategic pivot to ride its tailwinds. The only thing better than that is when two companies come together to do so, and that’s what we have today with IBM, RocketSpace and our Aging of the Population investing theme. As you’ll see below, these two companies have recognized what we have – that the aging population is going to drive a sea-change in demands and needs compared to what we’ve seen in the past, and yes, it’s much more than just healthcare.
IBM iX, the digital agency and consultancy part of the business, and RocketSpace, a Silicon Valley-based external innovation consulting company, are announcing the Aging Population Industry Collaborative, a new pilot-driven program using emerging technologies to solve challenges faced by the aging community. As the founding partners, IBM iX and RocketSpace will bring progressive corporations across industries including healthcare, financial services, telco, retail, energy and CPG together with disruptive tech startups to jointly build digital solutions that help improve the financial wellness, mobility, health and well-being, and daily living of the fastest growing and wealthiest segment of our population.
The aging population encompasses a broad age demographic that requires new options that support longevity – helping people stay self-sufficient for longer across a range of areas beyond healthcare. “The technology sector would be wise to wake up to the rise of this population – a time and cash-rich group – that not only requires new options for care, but also for leisure, travel, and work.
Emerging technologies from robotics to artificial intelligence and sensors have the potential to revolutionize how the aging population – and their supporting community – live and thrive. During the program, the diverse group of forward-thinking global organizations and selected startups will have multiple real world proof-of-concept testing opportunities that could lead to expanded pilots, future partnerships, or investments.
“The 50+ population is proving to be more active, tech-savvy, wealthier and healthier than ever before,” said Drew Crisp, Executive Partner at IBM iX. “We want to accelerate the creation of digital products that relieve them of everyday pain points and support them in new life adventures. Teaming up with RocketSpace as our innovation partner and bringing together corporates from different industries creates a powerful mechanism for driving real, tangible change and solutions.”