According to the National Institute on Aging, there are more Americans aged 65 and older than at any other time in history. One in nine Americans over the age of 65 have Alzheimer's.
The a2 Pilot Awards were created to encourage the development of technology for older people. The first cohort of 33 projects were selected to receive funding from the NIA. Artificial intelligence or machine learning tech is used by the majority of people.
The managing director of a2 Collective hopes that the awards will encourage more tech entrepreneurs to get into agetech.
He said that there is a large, growing, massive, future in the market and that there are two mega-trends, artificial intelligence and the demographic of aging.
Three Artificial Intelligence and Technology Collaboratories are included in the a2 Collective. The A ITCs are located at three universities.
Most of the pilot projects address cognitive decline, but there are some that address other issues. Up to $200,000 in zero equity grants will be given to the projects that are selected for funding.
Half of the applications for the first awards were from private companies There are many partnerships between the private sector and academics. A2 Collective reached out to various organizations to find applicants.
The first cohort of the a2 pilot awards.
"We definitely have an eye towards commercial use or some kind of commercialization of the project." In the next several years, you want to see an impact where it will be used by someone.
A project that uses music to address symptoms of Alzheimer's disease is one of the ones selected. Bestie Bot uses cameras and computers to check on patients. WellSaid.ai uses artificial intelligence to detect cognitive impairment and dementia in people at home.
A2 Collective has partnerships with health care systems, clinicians and researchers, venture capitalists and public health institutions that are focused on elder care.
gerontologists, geriatricians, Alzheimer's specialists and other experts are given access to by each A ITC. The goal is to give each project the same kind of mentoring and guidance as a pre-seed startup.
There will be a second a2 Pilot Awards, with the next group of finalist currently being selected. The announcements will be made in the spring. Applications will be accepted from May 1 to July 31 for the third competition.
An increase in agetech is expected, according to the man.
As the cost of computing goes down, I think we can expect a Cambrian explosion of new technologies that will help older Americans, including those with Alzheimer's, live longer and better lives. We are in the initial stages of it.
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