AARP Innovation Fund to invest $40 million in three areas
The AARP will provide $40 million to companies "focused on improving the lives of people 50-plus" in innovative ways through the AARP Innovation Fund.
The AARP partnered with J.P. Morgan Asset Management's Endowments & Foundations Group and its Private Equity Group to source and evaluate potential investments for the fund. The AARP is the only third-party investor in the fund, which will make direct investments in early- to late-stage stage companies developing products in three healthcare-related areas:
- Aging at home. The fund will seek to encourage the development of products and services that leverage technology to enable adults aged 50 or more years to continue living in their homes safely and affordably. Such products include home sensor activity tracking, hearing and vision health, mobility assistance, meal plan/delivery/cooking solutions, social communities and physical augmentation devices.
- Convenience and access to healthcare. The fund will support the advancement of telemedicine, consumer diagnostics and consumer care transparency tools that enable consumers aged 50 or more years to adopt positive health behaviors.
- Preventive health. The fund will seek to expand the market for products and services that help consumers aged 50 or more years prevent the onset of serious health conditions. Such products and services will relate to diet and nutrition management, stress and emotion management/therapy, fitness apps and programs, integrated health engagement incentives, and cognitive and brain health.