Government launches £100m fund for businesses to develop new products for ageing population


The Government has launched the Industrial Strategy Challenge Fund Healthy Ageing Challenge, a £98m investment to support businesses and researchers to develop new products and services for the ageing population.

The investment is part of the Ageing Society Grand Challenge that aims to ensure people enjoy 5 extra years of healthy and independent life by 2035.

Businesses and public sector organisations are being encouraged to show how products, services and business models that support people as they age could be scaled up.

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Up to £38 million could be available in a second phase to support the development of the best ideas in a series of large projects.

The competition aims to establish large, multi-disciplinary, collaborative projects that demonstrate new business models and products working at scale to provide new and sustainable services for older people.

It will fund projects across 7 themes of the Healthy Ageing Challenge Framework drawn up by the Centre for Ageing Better, namely: sustaining physical activity, maintaining health at work, designing for age-friendly homes, managing common complaints of ageing, living well with cognitive impairment, supporting social connections and creating healthy and active places.

There is a focus on the first 3 themes and on exploiting benefits across all the themes, while projects that address healthy ageing challenges outside the themes will also be considered.

The competition opens on 23 September 2019, and the deadline for applications is at midday on 27 November 2019, with an online briefing event to be held on 4 October 2019.

It is open to businesses and public sector organisations of any size may apply.

Tags : ageing society grand challengegovernment
Patrick Cremona

The author Patrick Cremona

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