Last Update: November 2019
Israel is known as the “StartUp Nation“. Per capita, it has more high-tech startups and VCs than any other country in the world. It also has a blossoming AgeTech eco-system, comprised not only of startups, but also accelerators, VCs & more.
Startups in Cognitive Care
In 2010, approximately 35.6 million people lived with dementia worldwide. This number is expected to almost double every 20 years, to 65.7 million in 2030 and 115.4 million in 2050.
MyndYou developed technology that passively monitors the cognitive and behavioral function of older adults during their day-to-day lives. They analyze voice and activity using ML and AI, and are able to detect changes that require intervention.
BioEye is trying to solve this problem using the user’s smartphone. They track eye movement for screening and are able to detect the early stages of cognitive decline. Healthcare professionals are provided with data-driven insights so they can more effectively manage decline and deliver personalized care.
Effectivate developed a personalized cognitive training program that helps strengthen memory and attention span. Their system is based on the most recent neuropsychology studies and the theory of neuroplasticity – the brain’s ability to continue develop, adapt, and learn throughout life.
Startups in Social & Communication
Loneliness and social isolation are known as risk factors for mortality and morbidity. Older adults who live alone are especially vulnerable. According to recent studies, 20-30% of older adults are either socially isolated or report feelings of loneliness. Two startups on a mission to tackle this issue are Intuition Robotics & UniperCare.
Intuition Robotics, founded in 2015, raised $22M from iRobot, Toyota AI Ventures, Bloomberg Beta, Samsung Next and others. Their first product is ElliQ, a social robot for older adults. ElliQ makes it easy to connect – to family, friends, and the digital world at large. She can assist with sending messages, receiving pictures, making appointments, reminding about medications, and much more. She can also be proactive and will engage with her user throughout the day. (Full disclosure – I used to work at IR).
UniperCare has developed a TV set-top-box, that allows older adults to socialize in a simple and intuitive way. Its TV-based platform helps with social engagement, performing daily activities and provides access to entertainment.
Startups that develop Sensory Aids
According to the World Health Organization (WHO), approximately one-third of people above the age of 65 are affected by disabling hearing loss. In a report from 2010, the WHO estimated that the number of people worldwide who suffer from visual impairment is around 285 million. 65 % of people visually impaired and 82% of all blind are 50 years and older.
TuneFork & Nuance have come up with solutions to two different issues faced by people who suffer from hearing loss.
TuneFork developed an audio personalization software that delivers an optimal hearing experience. Hearing is an individual experience. Each person has a unique hearing “earprint”. Their system guides the user through a simple, clinically accurate test, which characterizes their hearing, creating a personal audio profile.
The test results are used to tailor a precise audio filter for each and every user, creating the perfect match between the sound system and the person’s hearing. TuneFork can be integrated into smartphones, smart TVs, smart speakers, and many other devices.
Nuance is tackling one of the toughest issues faced by older adults with hearing difficulties – the Cocktail Party Problem. This issue makes people with hearing loss miss out on social interactions because it’s challenging for them to focus on a single speaker in a noisy environment. For older adults, this might also mean feeling more socially isolated.
OrCam, who makes products for people with visual impairments, was founded by serial entrepreneurs Prof. Amnon Shashua and Mr. Ziv Aviram, who are also the co-founders of Mobileye (sold to Intel for $15B). The company has developed the OrCam MyEye and the OrCam MyReader. While the MyReader focuses on reading and text recognition, the OrCam MyEye has extra features of face and product recognition. Both devices use audio output (tts) to read aloud what they “see”.
Startups in Wellness monitoring & Fall Detection
Falls are a major cause of disability and death in older people. A quarter of the people 65 years or older, fall once a year. Countless startups are trying to tackle this issue. Several Israeli startups have come up with innovative solutions to this problem.
Vayyar Imaging was founded in 2011. They raised $79M from Bessemer Venture Partners and others and spent years of developing 3D imaging sensors for various use-cases. In 2018, they released Walabot Home. Aspiring to be the next-generation personal response system, it is intended for use in the bathroom. This wall-mounted device offers automated fall monitoring and requires no wearable and no emergency button to push.
Owlytics was founded in 2015 by professionals working in the healthcare IT sector. Their system uses a wearable wristband for data collection. Machine-learning algorithms can detect abnormal physiological patterns, thereby predicting suspected health events. Owlytics will gradually provide its data analytics solution, via channel partners, into seniors private homes and will support their and families Peace of Mind.
Vitalerter developed contact-free sensors that are able to monitor vital signs like heart rate and blood pressure, as well as movement and body temperature. The data collected enables health-care professionals to take proactive measures that can prevent falls and ulcers. The system is also able to analyze patterns and detect abnormalities, and provide staff with actionable insights.
Startups in Digital Health
XR health developed the XRHealth platform. It includes multiple immersive applications enabling cognitive training, physical measurements and pain distraction, providing real-time analytics for users and clinicians.
Selfit is a startup that’s using HRI (human-robot-interaction) for rehabilitation purposes. Their intervention program conducts on going patient assessment tailors therapy to each patients’ needs.
WizeCare, an alumni of Upward Labs’ accelerator, developed a system that allows healthcare providers to deliver physical therapy sessions directly to their patients’ homes, which enables them to measure and standardized quality of care.
Medisafe was founded in 2012, and has since raised $21M to develop a medication management platform, that offers healthcare providers real-time insights into patient behavior. This helps healthcare providers develop more effective and efficient interventions, improve adherence, and keep their patients healthy and safe.
New and Noteworthy
Clanz is an award-winning AI-based solution that is able to monitor and detect caregivers’ maltreatment of care-recipients, by analyzing the audio of the daily interactions within care environments.
2gether is an early stage startup already started distribution. The 2gether kits are designed to improve social connections through music. The app immerses older adults and family members in a joint musical-therapy experience.
Startup Incubator
AEON – the age tech incubator by TechForGood, recently launched it’s second batch of startups. Their 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. TechForGood partnered with Matav, which is the largest home-care provider in Israel, Kimberly Clark and Leumi bank.
Venture Capital
Mediterranean Towers Ventures is the venture arm of the publicly traded Mediterranean Towers, which is the largest chain of retirement communities in Israel. Founded in 2017, this is the first (and only) fund in Israel that invests exclusively in technology companies in the aging market.
Aging Innovation Lab
CDI – the center for digital innovation features a model home, simulating the challenges in the everyday living environment of older adults.
Located in Beer Sheva, it is jointly sponsored by key stakeholders in the aging sector, including Ben-Gurion University of the Negev (BGU), the National Insurance Institute of Israel, the Beersheva municipality, the Joint Distribution Committee (JDC) and the Amal & Beyond Group.
Meetups
Regular meetups are hosted by the local Aging2.0 chapter and can be found in this link.
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Resources:
Start-Up Nation Central – Finder
The global prevalence of dementia: A systematic review and metaanalysis
WHO – Hearing loss in persons 65 years and older