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There are more Americans age 65 and older than at any point in history, and the number will continue to rise, according to the National Institute on Aging (NIA). With longevity comes challenges like Alzheimer’s, which affects one in nine Americans age 65 or older.
The a2 Pilot Awards were created to encourage the advancement of technology for seniors. Funded by the NIA with $40 million over the next five years, the award today announced the first group of 33 projects selected for funding. Most use artificial intelligence or machine learning technology, and 40% are led by women.
Stephen Liu, managing director of a2 Collective, which oversees the awards, told TechCrunch that he hopes it will encourage more tech entrepreneurs to enter agetech.
It is a largely uncompetitive, growing, future-proof market with unprecedented opportunities driven by AI, he says. A growing, huge, future-proof market you should focus on.
The a2 Collective includes three Artificial Intelligence and Technology Collaboratives (AITC) where the projects work together. AITCs are housed at Johns Hopkins University, the University of Massachusetts Amherst, and the University of Pennsylvania.
Most of the 33 pilot projects deal with cognitive decline, but some are tackling frailty, infectious diseases, depression, palliative care, social isolation and visual impairment. They will receive a total of $5 million, and projects selected for funding will receive a zero-equity grant of up to $200,000 to cover direct costs over a one-year period.
About half of the applications for the first awards came from private companies, while the others were academic research projects. Many of them are collaborations between the private sector and academia. A2 Collection has reached out to healthcare-focused startups, academic institutions, accelerator programs and venture capital firms to find applicants.
The first group of a2 pilot awards
“In this particular program, we definitely have an eye for commercial use or some sort of commercialization of the project,” Liu said. “Ideally over the next several years, you want to see an impact where someone, that clinic, can be used by a large American, caregiver or nurse.
Some examples of selected projects include Autotune, which uses music to address the symptoms of Alzheimer’s disease and related conditions. Bestie Bot uses RGB-D depth cameras and thermal computer vision to perform patient monitoring and telehealth checks. And WellSaid.ai is using conversational AI to conduct health assessments and identify signs of cognitive impairment and dementia for people in their homes.
In addition to AITCs, a2 Collective’s partnerships include healthcare systems, clinicians and researchers, venture capitalists, and public health institutions focused on agetech and geriatric care.
Each AITC determines which projects receive funding, and also provides access to gerontologists, geriatricians, Alzheimer’s specialists and other experts. The idea is to provide the same mentorship and guidance to each project as a pre-seed startup through accelerator programs, Liu said.
The second a2 Pilot Awards are already underway, with the next group of finalists currently selected. They are known in the spring. The a2 Collective is accepting applications for the third competition from May 1st to July 31st.
Liu said on TechCrunch that he expects a surprise at agetech.
“As the cost of computing continues to decrease and our AI modeling capabilities increase, I think we’re going to see an explosion of Cambrian new technologies that will help older Americans, including those with Alzheimer’s disease, live longer and better lives and perhaps even help those in need. The health care system,” he said. We are at the beginning.
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