Applications sought from across County Durham, Tyne
& Wear and Northumberland.
The Innovation SuperNetwork has today (Wednesday 06th
February) opened applications for North East businesses and start-ups
developing innovative solutions in the ageing sector to take part in its Ageing
Innovation Accelerator programme.
The announcement comes as experts in the field, Professor
Joseph F Coughlin, (Massachusetts Institute of Technology, AgeLab) and Stephen
Johnson (Aging2.0), joined delegates attending the third Ageing Innovation
Accelerator workshop in Newcastle.
Speaking about the accelerator, Stephen
Johnston, founder of the global ageing innovation network Aging2.0, said: “At
Aging2.0 we are tracking eight Grand Challenges facing our ageing populations,
and I was excited to see some of the fantastic ideas already in development by
the current cohort of businesses and entrepreneurs taking part in the ageing
innovation accelerator.
“With applications now
open for the full accelerator, I’m looking forward to seeing which ideas are
taken forward to commercial realisation and hope to see how they impact
positively on society in the not too distant future.”
Today’s event featured a discussion led by Prof Coughlin,
who founded MIT’s pioneering AgeLab, on the opportunities arising from the
longevity economy to provoke and inspire creative responses to the challenges
facing an ageing community.
The accelerator programme is aimed at North East businesses
with the potential to develop the solutions to these challenges. It is offering
£12,500 of investment from the North East Innovation Fund supported by the
European Regional Development Fund and managed by Northstar Ventures. Six
months office space on Newcastle Helix is also being made available courtesy of
Newcastle City Council.
Simon Green, CEO of the Innovation SuperNetwork, said: “The
North East is leading the way in the ageing space. Not only do we see
significant expertise coming out of the National Innovation Centre for Ageing,
but entrepreneurs are already developing ground-breaking new products and
services in the sector. Following an intensive series of workshops to outline
some of the challenges and opportunities associated with an ageing society, the
accelerator provides a package of support to help budding innovators bring
their ideas to market.
“We’ll be working with eight ambitious businesses for six
months and by September, we’d like to have eight new products ready for
commercialisation or significant further investment.”
The Accelerator is open to any
business based in the North East or planning to start up here. The support
available includes:
- Help from the National
Innovation Centre for Ageing to further develop ideas.
- Intensive support from
the Innovation SuperNetwork team on the commercial aspects of the idea.
- Free workspace alongside
other Accelerator businesses in the brand-new Biosphere building on the
Newcastle Helix site.
- Up to £12,500 in funding
from Northstar Ventures to cover development costs.
- Help to access further
grant funding and support as appropriate.
Working with the National Innovation Centre for Ageing,
Newcastle City Council, Aging2.0 and Northstar Ventures, the Innovation
SuperNetwork kicked-off the challenge-based programme in November at
VentureFest North East. Pitches from shortlisted businesses will be heard at
the final Accelerator workshop in March.
Stephen Price, Northstar Ventures Investment Director, said,
“The global ageing population and the growing longevity economy presents
enormous opportunities for ambitious entrepreneurs and innovators across
multiple industries and markets. We’re delighted to be supporting this
accelerator programme and helping local entrepreneurs take their first steps in
building the innovative products and services that an ageing population demands.”
Businesses wishing to apply for the full accelerator should complete and return the online form at https://supernetwork.org.uk/current-projects/ageing-innovation-accelerator/ by Friday 1st March 2019.
ENDS.
