The Exclusive Age Tech Accelerator Club

age tech accelerator

Age tech 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.

Whatever your startup does, there’s an accelerator program out there tailored to your needs. Early stage startups in age tech, however, can choose to go to an accelerator program with expertise in a specific tech vertical (like drones), or to one with expertise on their target market, in this case, older adults. This article focuses on age tech accelerators that are either currently running programs or are still open to applications.

Zinc VC’s Mission 3

Zinc is a 9-month company-builder program, based in London and focused on tackling the world’s toughest social issues, affecting at least 100M people. This year, they’ve announced the launch of Mission 3, a program that focuses on the world’s aging population. The mission – to add five high-quality years to later life.

3 batches of startups are expected to launch during 2019. The solutions are not limited to any particular vertical or any particular type (e.g. biological, psychological, tech, construction, etc’). Instead, the program allows founders to unleash their full creativity and find the best solutions, products, and services.

Who is it for?

Creators and innovators from a variety of backgrounds, including clinicians, engineers, financial services experts, creative designers, researchers, serial entrepreneurs, product managers, NGO innovators, life scientists, care managers, and more.

What do they provide?

  • Intensive and structured programme
  • Network of experts and advisors
  • Stipend: £12,000 paid over nine months.
  • Opportunity to find a co-founder
  • Mission-led
  • Co-working space
  • Credits for cloud computing services.
  • Be part of a brilliant, diverse and supportive cohort of Founders.
  • Founding Shareholder: Zinc as a Founding Shareholder in your new company, based on a 8% equity stake.

What is the cost?

Zinc as a Founding Shareholder in your new company, based on a 8% equity stake.

HAX + Centrica Hive connected-care acceleration track

HAX is a venture capital-based program dedicated to accelerating startups with a hardware element. Hax has partnered with Centrica, a British multinational energy and services company, and launched a challenge to find the next generation of connected solutions to further independent living, improve communication, and increase the quality of life for older adults, their caregivers, and loved ones.

HAX is a two-stage program that starts in Shenzhen and finishes in San Francisco. Companies that are admitted to the program will spend four to eight months in Shenzhen co-developing technology, followed by two to three months in San Francisco, where they will work on business development, fundraising, and growth.

Who is it for?

Early stage startups with a hardware element, or later stage startups looking to create a version two to scale into other verticals and/or markets.

What do they provide?

  • Initial funding of up to $100,000 per company.
  • In-house manufacturing and engineering expertise.
  • Helping you create your company, its business model, positioning, branding, and product design all the way through launch and manufacturing.
  • Connecting you with potential investors and strategic partners, as well as advisors and press.

What is the cost?

Between 7% and 15% initially. Their target is to be between 15-20% ownership prior to Series B for companies they truly believe in.

Upwards’ Aged Care Lab

Upward Labs is a new program created by Upward that is designed to incubate ideas in aged care and Smart Buildings industries. Up to 10 startups will participate in their 6-month program built around a pilot, giving entrepreneurs the tools and support in order for it to run successfully.

Who is it for?

Companies that have a product or service in aged-care. There are no limitations based on the stage of your company, money raised, country of origin, or prior accelerator experience.

What do they provide?

  • $50,000 in cash
  • $50,000 of luxury co-living, co-working space and services
  • $200,000 in pilots across 100 Assisted-Living Units and 100 Home Health-Care Homes.

What is the cost?

The Lab takes $300,000 in shares using a convertible note. The note carries an 8% interest rate and a 20% discount and will automatically convert in a qualifying round of at least $1 million dollars within 18 months. The CAP on the convertible note will be determined based on the company’s valuation.

Age Tech Accelerator

Age Tech Accelerator is a program based in Europe and funded by the EU. It is not a traditional incubator/ accelerator since they don’t provide start-ups with seed funding, co-working space or structured mentoring. Their focus is on co-creating with the user or buyer, product testing and support to get the product to market.

Who is it for?

Applicants can be early or late stage innovations and are not limited to specific verticals. However, they do focus on the following: health and care, food, household, assisted living and personal equipment.

What do they provide?

  • Advice on routes to market
  • Access to markets in four countries: UK, France, the Netherlands and Belgium
  • Testing in the lab and field
  • Specialist labs of real users recruited from thousands of older consumers
  • In-country experts specializing in the needs of older people
  • Do not charge any fees or require any equity
  • Opportunity to sit down with potential buyers, commissioners, resellers, and distributors.
  • Silver economy business network

What is the cost?

Age Tech Accelerator is a free (no equity required) program.

AEON by Tech For Good

This incubator offers a personalized program for entrepreneurs that develop solutions for aging at home. The 6-month program is designed to provide each of the startups with everything they need to grow and succeed.

Who is it for?

The program is suited for innovative startups at the POC stage, or that have a working product and are looking to expand their activity. They are looking for innovative startups that are addressing the following issues:

  • Independence
  • Caregiving
  • Access to products and/or services

 

What do they provide?

  • Office space
  • Expert assistance
  • Beta site
  • Legal Counsel
  • Access to capital
  • International network partners
  • Personal mentoring
  • Financial Advisory

 

What is the cost?

They do not take any equity from participating startups.

Silver Moonshots Virtual Accelerator

Programs take place in six-week sprints and do not require participants’ physical presence.

Silver Moonshots uses a proprietary Startup Launch Assistance Map (SLAM). They provide expert advice through online tutoring and directed learning experiences, focusing on deep and meaningful customer discovery (wherever possible), and by drawing on the most expert mentoring available in the world from an array of individuals who have not only advised successful startups, but often had their own direct success in the startup world.

Who is it for?

startups looking to get faster traction and much greater opportunities for access to early revenue capital.

What do they provide?

  • Required pre-program reading and video-course immersion
  • Weekly three-hour zoom conference calls
  • Initial presentations according to a template with peer mentoring input
  • 2 sessions with an assigned mentor to each participating company each week
  • Assigned ‘homework tasks’ between each session
  • Deep and active customer discovery each week
  • Final presentation session ‘demo-day’ at which all mentors and both angel and venture investors participate

What is the cost?

$995, with up to 3 people able to participate in the program.

To summarize, entrepreneurs in the aging have not only “regular” accelerator programs to chose from, but also, programs that specialize in the aging population. Wherever you’re located, whatever stage company you have, and whether you’re willing to give up some equity or not, one of the above accelerators could help you lunch a successful business.

Know of any other accelerators for entrepreneurs in aging? Reach out to me on LinkedIn or Twitter!