Active and Assisted Living – Third Smart Ageing Prize Launched

The 2020 Prize is focused on Senior Enterprise and is aimed at increasing the number of older adults participating in entrepreneurial ventures.

Individuals, groups and organisations located in the EU 28 countries, plus Canada, Taiwan and the countries Associated to Horizon 2020, are eligible to apply for a share of the €50,000 Prize pot. The Prize is divided into three awards with €35,000 for first place, €10,000 for the first runner up, and €5,000 for the second runner up.

Submitted solutions should support, empower and inspire older adults to engage in entrepreneurship – for example through the creation of intergenerational teams and skills-sharing, or digital solutions to help bring to life the entrepreneurial ideas and energy of the 60+ age group. Involvement in enterprise is not limited to those who want to set up their own business. Other fruitful routes into the sector can include mentoring/coaching for younger entrepreneurs, or going into business with an intergenerational team.

Solutions must be innovative. The prize is not looking to support a solution such as a website with no innovative digital component. The technology can be incrementally innovative, not necessarily disruptive, but it should be something that isn’t already available on the market.

The solution must also be supported by a strong and viable business model. This means having thought carefully about the customer segment and designing the product in conjunction with end users to ensure it meets their needs. At later stages of the competition, participants will also need to explain how they intend market their solution – products and services need to be desirable and attractive to the over-65 market.

Importantly, the solution should be capable of delivering a measurable improvement in the number of older adults participating in entrepreneurial ventures, and really championing the assets and skills of senior talent.

The deadline for entries is 26 February 2020 (17:00 CET).

More information about this funding opportunity and the application process is available on the GRANTfinder funding information platform. GRANTfinder provides up-to-the minute content, insight and analysis on funding news and policy. To find out more about how GRANTfinder can keep you in the know, and subscription fees, contact us today.