AARP has a strong history of leading innovation by changing the marketplace. Our members are disrupting aging in a variety of ways and so is AARP. The AARP Innovation Fund is the next evolution of our ability to fulfill our social mission by making sure that the needs and interests of those 50-plus are well represented by products and companies.” - Jo Ann Jenkins, CEO of AARP
The AARP Innovation Fund will make direct investments in early- to late-stage stage companies developing innovative products in three healthcare related areas:
Aging at Home—The fund will encourage the development of products and services that leverage technology to enable older adults to continue living in their homes safely and affordably such as: home sensor activity tracking; hearing and vision health; mobility assistance; meal plan/delivery/cooking solutions; social communities; physical augmentation devices.
Convenience and Access to Healthcare—The fund will support the advancement of products and services that enable 50-plus consumers to adopt positive health behaviors that they welcome into their lives such as: telemedicine; consumer diagnostics; consumer care transparency tools.
Preventative Health—The fund will seek to expand the market for products and services that help 50-plus consumers prevent the onset of serious health conditions such as: diet and nutrition management; stress and emotion management/therapy; fitness apps and programs; integrated health engagement incentives; cognitive and brain health.
In addition to financial support, some companies receiving these investments will have access to AARP’s knowledge and distribution channels to help 50-plus consumers have the opportunity to benefit from these innovative products and services.
We look forward to working with AARP on this fund that will invest in and support innovative companies creating solutions for the people in this powerful and growing key demographic and their families. Our knowledge of the market, combined with AARP’s expertise on the wants and needs of those 50-plus, is a powerful combination that will help the AARP Investment Fund invest in innovative companies in the consumer healthcare space.” - Kathy Rosa, Managing Director and Portfolio Manager in J.P. Morgan Asset Management’s Private Equity Group
People 50-plus are online, connected and make use of technology that is intuitive and consumer friendly. They have tremendous buying power – responsible for at least $7.1 trillion in annual economic activity – a number that is expected to grow to $13.5 trillion by 2032. Companies working with the AARP fund have a great opportunity to grow the double bottom line: They can increase revenue and improve the lives of Americans as they age.
Jenkins concluded: “The Innovation Fund showcases AARP’s ability to generate bigger, bolder solutions that will disrupt aging, increase our impact on and drive relevance for the 50-plus population.”