Aging 2.0 just received a big boost in their mission to create new and innovative products and services for the aging Boomer market.
About two years ago I first met Katy Fike and Stephen Johnston, the founders of Aging2.0, at AgeTech West in Pasadena. Katy tried to describe what it was they were doing and I just didn’t quite get it. I suspect Katy and Stephen may well have walked away from talking to me saying,”We met this guy who thinks he’s a blogger, but we have never heard of him . . I just don’t know. . .” Since then I have watched Aging2.0 grow and mature into something tangible that has great potential to find, nurture and launch technology companies that are creating practical, valuable products and services for seniors, in and out of senior living.
For the past two years Katy & Stephen have been working on two key components of their new venture:
- Nurturing startups that have targeted the senior market and connecting them with customers and capital. This means providing advice on how to massage the product offering, guidance on how to position the products in the marketplace and giving these companies lots and lots of exposure to the investor community, long-term care providers and potential users.
- Creating buzz – They have created amazing buzz. They have a particularly high profile in the Silicon Valley, which is the heart of venture capital and technology. They recently hosted their inaugural Aging2.0 Global Innovation Summit and have presented at industry conferences across the country, including Mary Furlong’s two Boomer Summits, AgeTech West, American Society on Aging, CES Silver Summit, NIC, SXSW and more. They have also gotten quite a bit of press including a 7 minute nationwide segment on PBS NewsHour and writeups in major publications including BusinessWeek
On May 14, 2014, Katy & Stephen announced the launch of Generator Ventures, an early stage investment fund that is targeting early stage emerging companies that are focused on the aging and long term care marketplace. The capital for the fund is the result of a partnership with Formation Capital , a $4-billion, very successful, private equity fund that is focused on senior housing and services. A key ingredient to this new initiative is that Arnie Whitman, the chairman of Formation Capital, will become a Generator Ventures partner. This will provide a wealth of experience and expertise to an already strong organization.
Because I was Confused – The Organization
Here is what their organization looks like.
- Generator Ventures LLC is the early-stage venture fund that invests directly in startups. Generator Ventures also runs the Generator accelerator program
- Aging2.0, the global innovation network, is fully owned by Generator Ventures. Aging2.0 connects and educates innovators through their Summit, global networking events, design challenges, the CoverAGE newsletter and more.
We Are Growing Up
I am in the middle of the Baby Boomer generation that will have great sway over the marketplace for the next 20 or so years. It is an exciting and somewhat chaotic time. There are lots of people trying to figure out what we need and what we will be willing to pay for. It is tough because, so far, the evidence seems to suggest that we Boomers do not have very clear answers. We are seeing tangible evidence that the investment community is serious about aging and long term care, both in the real estate space and technology space. This is a good thing because as interest grows we will see more innovation and sophistication that will likely teach us some new tricks and mightily benefit seniors.
Finally: Aging2.0 and a number of their start-ups will be at the Silicon Valley Boomer Venture Summit next week. I will also be moderating a session on branding and creating a on-line presence at the Venture Boot Camp The day before. Steve Moran
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