The Selwyn Foundation has launched its inaugural
Respectful Ageing Innovation Challenge, which will see
$550,000 given to develop solutions to the complex problems
seniors face.
The Selwyn Foundation embarked on a
transformation process two years ago, selling six of its
seven rest homes, with a goal to invest $100 million over
the next decade to drive social impact at scale. The
Challenge is the first step on that journey, aiming to fund
innovative products and services that significantly improve
outcomes for older people.
“Our research into the
areas of greatest need for older New Zealanders shows
health, financial hardship, housing insecurity, social
isolation and loneliness, and access (including transport as
well as digital access) are the five biggest challenges,
leading to further negative impacts on both physical and
mental health. Addressing these will require new solutions.
We know that New Zealanders have the ability to create
amazing solutions through collaboration and innovation, and
we want to foster an innovation eco-system that promotes
Respectful Ageing,” said The Selwyn Foundation Chief
Executive Officer, Denise Cosgrove.
There will be 1
million New Zealanders over the age of 65 by 2028,
coinciding with a shrinking tax base to support older people
with vulnerabilities. While older people are often seen as
being wealthier and in a better position than younger
people, the Foundation’s research across Auckland and
Northland identified an estimated 37,500 significantly
vulnerable older people in those areas alone. That number is
only expected to grow as our ageing population
increases.
A third of all older people in New Zealand
are currently vulnerable, with 13% experiencing disadvantage
across multiple areas of wellbeing. Nearly 30,000 live in
homes that are sometimes or always damp, and many experience
feelings of loneliness or being isolated, which
international research tells us places them at greater risk
of an early death. The issues are greatest for Māori and
Pacific seniors, with compounding challenges for single
older women, those with a disability and those who have
mental health issues.
“The issues older people face
are complex. We’ve launched this Challenge to raise
awareness and spur businesses, innovators, entrepreneurs and
community organisations to come up with creative ways to
create real change, whether that’s through technology,
products or services. On the flipside, the ageing population
creates huge potential to harness the energy and experience
of older people and enable their ongoing contributions. This
presents a real opportunity for economic growth through
innovation in the design of products, services and support
catering to the needs of people as they age. Countries like
the US and UK are already embracing this, and we want to
create the same kind of environment here,” said Liz Gibbs,
Chief Impact Officer at The Selwyn Foundation.
The
Challenge has two categories, each with different criteria.
Three grants worth $50,000 each will be awarded to enable
organisations to conduct a feasibility study or pilot.
Another pool of $400,000 will be available for up to five
“Boost” projects, to help expand the reach or impact of
an enterprise’s existing product or
service.
Applicants are encouraged to take an
evidence-based approach that addresses the key areas of
disadvantage: health, housing, financial hardship, social
isolation/loneliness, and access. Solutions that target
groups who have been identified as especially vulnerable,
such as single women, older Māori and Pacific people, are
particularly sought. Products or services that serve the
Auckland and Northland regions will also be
prioritised.
For more information on the Respectful
Ageing Innovation Challenge, visit https://selwyninnovationchallenge.org.nz
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