According to the Ministerial Committee on Aging Report for 2007, Singapore has one of the world’s fastest ageing populations. By 2030, one in five residents will be 65 and above, from one in 12 today. By 2050, Singapore is projected to be the fourth oldest country in the world.
The coming surge of seniors, which starts when the first batch of ‘Baby Boomers’ reach 65 years of age in 2012, will have tremendous effect on all parts of our society – individuals, families, communities, businesses and government. And it will also present opportunities for those who are quick to develop
innovations to take advantage of this demographic shift. The market potential is of course global and not confined to Singapore, but Singapore offers an excellent hub to testbed new innovations for the elderly.
InnoAge is an initiative spearheaded by the NUS Entrepreneurship Centre to tap the creative energies and innovative minds of our university and polytechnic communities, to share and exchange ideas on how the IHL community in Singapore can contribute to accelerating the commercialization of innovation
and creation of high tech spin-offs for the silver market in Singapore and globally. Through this informal forum, we are hoping to create a more formal interest group or network of people and organizations interested in innovation and entrepreneurship for the silver market. We will also work synergistically
with government agencies such as the MCYS, C3A, EDB, SPRING Singapore and key silver industry players and private sector entrepreneurs and venture investors to create a bright and exciting future for Silver Agers.
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