Israel’s young entrepreneurs are increasingly developing new technologies for the numerous needs of the senior population. Across the globe, the world’s fast-growing over-60 population is set to become “one of the most significant social transformations of the twenty-first century, with implications for nearly all sectors of society, including labour and financial markets, the demand for goods and services,” according to a 2015 report by the United Nations.
Consequently, technological solutions are required for everything, from retirement planning to health monitoring to diagnostics; Israeli companies are stepping up to meet the challenge.
Israeli start-up Essence Smartcare have developed voice recognition technologies and fall detection technologies which allow seniors to live independently with more confidence. While the Israeli company EchoCare Technologies has developed a non-wearable, elderly-care, home monitoring system that automatically alerts safety and emergency situations; their proven solution reduces fall risk by as much as 50%. Owlytics Healthcare have taken it a step further: Using a wearable wristband, Owlytics collects personal health data so that machine-learning algorithms can detect abnormal physiological patterns, and are able to predict suspected health events.
As medical innovations continue to develop allowing us to live longer, the quality of life, rather than quantity, is increasingly becoming the main concern. The NHS as well as multinational companies, such as Centrica and BT, are looking to accelerate innovation to improve the quality of life of the aging population, and are looking to Israeli companies for collaboration.