The Keeping Connected Business Challenge Opportunity
The Keeping Connected Business Challenge is a competition for teams of businesses and designers to develop innovative service ideas that keep older adults better connected.
Why Keeping Connected?
We believe a significant commercial opportunity exists in enabling older adults to be better connected:
- An ageing population means a growing older consumer market - but one whose needs and wants are often poorly understood and served
- Those aged 50+ currently account for a third of the population and an estimated 80% of its wealth
- Initial findings from the recent ONS survey on National Wellbeing found that having 'good connections with friends and family' rated second only to health as the most important factor influencing wellbeing
- A third of older adults currently have less than weekly contact with a friend, family or neighbour
What the challenge offers
The challenge gives teams opportunities to:
- Develop an innovative idea for a growing consumer market and make it a reality
- Expand and develop their business
- Collaborate with designers and benefit from their creativity and skills
- Forge new contacts through involvement with the Technology Strategy Board and Design Council.
Each winning team will receive:
- A share of £495,000 to turn its idea into reality while retaining 100% ownership of the intellectual property rights
- Help showcasing their project to the media, industry, and the public
- Support in finding further investment for their proposed idea
- Mentoring and access to expert support
October 2011 to May 2012