The Ultimate Guide to Agetech Accelerators - Which One Is for You?
AgeTech is fairly new to the competitive landscape of startup accelerators. Globally, there are thousands of accelerator/ incubator programs. Some belong to large corporations or venture capital firms, others are established accelerators that have had thousands of companies go through their programs like Y Combinator and Techstars.
Accelerator programs usually provide participants with a structured program designed to help founders accelerate their journey and make a lot of progress on multiple fronts (product, marketing, funding) in a short period of time. They also provide access to mentors and investors and host a demo day. Some will provide access to beta sites or connect you with potential customers.
Whatever your startup does, there’s an accelerator program out there tailored to your needs. Early stage startups in AgeTech, however, can choose to go to an accelerator program with expertise in a specific tech vertical (like hardware), or to one with expertise on their target market, in this case, older adults.
This article focuses on dedicated AgeTech accelerators are active in 2022, and since all of these programs offer mentors/ coaches + structured/ personalized programming, I’ve looked into each program’s unique value proposition, that sets them apart, to hopefully help you choose which one is for you.
Techstars Future of Longevity
Techstars is one of the biggest accelerators in the world. Founded in 2006, more than 2600 companies have already graduated from one of their programs. Techstars Future of Longevity launched in 2020 in partnership with Pivotal Ventures, an investment and incubation company created by Melinda French Gates, focuses on innovative solutions to address the unmet needs of older adults and their caregivers.
Techstars FoL program themes include: caregiver support, care coordination, aging in place, financial wellness, preventive health, social engagement, and more. Practically, any product or service that could be applicable to older adults or the people who care for them, could go through this program.
Their Unique Value Proposition
- A 3-month, mentorship-driven accelerator program
- $120K investment: $20,000 US for 6% of the company’s fully diluted capital stock (common shares) + $100,000 US convertible note (optional).
- Hands-on mentorship and access to the Techstars network for life
Applications for the 2023 cohort will be open from July 25th through October 12th, 2022. Read more.
Centre for Aging + Brain Health Innovation Acceleration Programs
The Centre for Aging + Brain Health Innovation (CABHI) is a solution accelerator focused on driving innovation in the aging and brain health sector. Established in 2015 through funding of $124 million (Cad), it is the result of the largest investment in aging and brain health in canadian history, and one of the largest investments of its kind in the world.
CABHI’s mission is to accelerate the development, validation, commercialization, dissemination and adoption of innovative products, services and best practices to support aging and brain health. The deliver by offering innovators a range of acceleration services to solve the challenges early stage companies face.
Their Unique Value Proposition
- Validation support and access to beta sites
- Customer acquisition + distribution channels (with 150+ members of their Innovation Network)
- End user testing + customer discovery
- 100% subsidized internships/co-op placements to access support from talented students and interns.
CABHI innovators and companies have already raised more than $407Min investments, and they are also able to provide funding in certain cases. Learn more about the program.
AARP Innovation Labs
The AARP is a United States–based non-profit organization focusing on issues affecting those over the age of fifty. They reportedly have more than 38 million members, likely making it the largest organization of it’s kind in the world. (Source: Wikipedia)
AARP’s program helps accelerate the growth of startups tackling society’s most pressing issues as the population ages. This is a virtual program helps early-stage AgeTech startups better understand the 50+ consumer and position their solution to tap into the $15 trillion longevity economy.
The program doesn’t require full-time commitment from your team, and they don’t take equity (since there’s no funding). However, due to their non-profit status, they are unable to give startups access to AARP’s membership base or utilize the AARP brand in marketing your business.
Their Unique Value Proposition
- 8-week virtual accelerator program
- Consumer insight tools
- Cohort-only events
- Subject matter expertise
Birdhouse
Birdhouse, launched their Aging & Longevity accelerator program in 2021 to support start-ups that focus on the economy of living longer. They’re also able to provide funding through their Birdhouse-Belfius fund, in partnership with Belfius insurance.
Their Unique Value Proposition
- €50,000 by means of a bullet loan (applicable for Belgium based start-ups)
- Focus days with keynote speakers
- Fully equipped office space
- Personalized tracks
As of May 2022, the program is currently in the midst of its 2nd cohort, and it’s possible to pre-register for the next one. Learn more.
Next Age
This program is an initiative by the CDP national accelerators network (Italy) and it is run in collaboration with SOSV (VC).Their mission is to develop a Silver Economy innovation hub through the direct partnership of startups, corporates, research centres and investors on a national and international level. Startups will receive financial and operational support by the acceleration program team and their partners with the scope of scaling their businesses globally.
Their Unique Value Proposition
- An investment of 102,000€ for 6-10% equity and up to €4.25M follow-on investment for select companies
- 4 month program in Italy which is the 2nd oldest country in the world
This program will launch its 3rd cohort in June 2022 so it might be too late to apply for this one (although it never hurts to ask). If you’re reading this past June, you can expect the next cohort to open around March of 2023. Learn more.
MATTER’s Innovation in Aging Program
MATTER is a global healthcare startup incubator, community nexus and corporate innovation accelerator. Incubated by the City of Chicago and initially funded by the State of Illinois and area businesses, MATTER opened in February 2015 with 30 startup companies and a few programs, and has since grown to include hundreds of startup and growth stage companies from around the world, dozens of corporate partners and a diverse array of programs supporting healthcare entrepreneurship and innovation.
In 2022, they announced their Innovation in Aging program, seeking technology-enabled solutions for reducing social isolation or loneliness in older adults.
Their Unique Value Proposition
- Exposure to the RRF Foundation for Aging and MATTER communities
- A chance to win 10,000-$20,000 cash award
- A free, six-month MATTER membership
This program is scheduled to launch the 2022 cohort in May. Read more.