Technology is often viewed as the industry of the young and new. We see a lot of emphasis on young founders (40 under 40), innovative ideas, and challenging legacy brands, incumbent businesses, and old ways.One thing I have learned along my journey of co-founding my startup is that technology should enable and be accessible to everyone. This is especially important for older adults.The most underrepresented audience for new technology platforms and products is the elderly. It is possible to offer products and services that make life easier for seniors today and the future generations of older adults. If we see the opportunity to be of service to older people, founders in all areas, including edtech, healthcare, financial services, and robotics, will make a greater impact.For tech companies looking to reach older adults, one of the best strategies is to concentrate your value proposition on older adults.Make a product that is not suitable for the elderlyTech companies often overlook older adults. It can be difficult (and insensitive, and uninspiring!) to market products or services for older people. This is because these people don't tend to view themselves as old.A tech company that wants to reach older adults is well-positioned to offer a value proposition that empowers older adults. Make a product that empowers older adults, not a product just for them.Tech companies have huge opportunities to empower seniors in the financial services, education, and health tech sectors.Some of the most impressive examples we are seeing include:AgeBold has interesting work to offer at-home exercises for seniors in order to increase mobility, strength, and balance. The value proposition is: Exercise for better ageing. Although it is a product that's intended for older adults, the message is geared towards empowerment and strength to help people age more actively.Eldera.ai is a platform that connects children and older adults with mentors. They can be contacted for one-on-one, group or remote conversations. This idea is very powerful as it allows older adults to share their lives and create relationships with families.Older adults have so many things to offer. Startups should not approach this market as a problem. Instead, they should engage with older adults to learn from them.Recognize the potential of the older adult marketMany consumer-facing apps are designed for younger users. There is a huge disconnect between the places where tech industry attention and investment are going and the lifestyle and spending habits of older adults.The most underserved segment in the tech industry is the older adult. They are also the fastest growing age group. Globally, the number of people 65 years and older will increase from 524million in 2010 to 1.5 million by 2050.Silver economy is expected to expand into the 2030s, driven by older adults' spending power. Seniors are the most wealthy age group, and their numbers are increasing 3.2% per annum (compared to 0.8% for the general population).
