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News & Press: News

€50k Available for your Smart Ageing Prize

06 March 2018   (0 Comments)
Posted by: Heather Smith
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€50k Available for your Smart Ageing Prize – hurry up, the entry deadline for the second AAL Challenge Prize, is approaching fast!

The AAL Programme, in collaboration with Nesta’s Challenge Prize Centre, has launched the 2nd edition of the Smart Ageing PrizeThe Smart Ageing Prize is an international competition that aims to identify the most promising solutions in Europe using ICT for active ageing and its main theme, this year, is ‘products and services that use innovative digital technologies to support older people to participate fully in social life’.

The prize process supports selected applications to develop their business through small financial incentives and mentoring, and the winners will be awarded a prize totalling €50,000 (the first prize of EUR 35,000, the second prize of EUR 10,000 and a judges’ choice award of EUR 5,000). The deadline for submitting ideas is Friday, March 30, 2018

This second Smart Ageing Prize is looking for innovative and inspiring products and services using digital technologies that facilitate real-world interactions to engage older people in social and stimulating activities, promoting active and connected ageing.

For more information: http://aal.challenges.org/

For Applying: http://challengeprizecentre.org/apply/

What innovative ideas the judges are looking for: http://aal.challenges.org/2018/02/27/innovative-ideas-judges-looking/  

Some background:

Evidence from global research suggests that supporting older people to participate fully in social life will help them remain active and healthy for longer into later life. At the same time, reducing social isolation requires meaningful engagements and social experiences. A key value proposition of ICT is its ability to connect people and communities. Digital technologies can, therefore, act as a broker for stimulating social experiences that improve wellbeing. That is why digital innovation to meet older people’s requirements and wishes is at the heart of this challenge prize.

After the deadline on Friday 30 March 2018, assessment by judging panels will follow and 15 semi-finalists will be selected to receive further support. Applicants must have a working prototype, or be able to produce one for demonstration at the mentoring academy in May 2018. The solution should be presented as a viable business opportunity by the time the challenge prize is awarded in October 2018 and should be aiming to win its first paying customers within 12-18 months. Solutions should be able to deliver a measurable improvement in the number of older adults participating in social activities.

The prize will help the most innovative ideas to develop prototypes and business plans. Fifteen of the most promising applications will be chosen as finalists and will be invited to a social innovation mentoring academy in Brussels in July, where they will receive expert coaching and support to develop their ideas. Following the academy, the finalists will be asked to submit a detailed plan of their idea. From these detailed plans, five applicants will be selected who will have the opportunity to attend the AAL Forum in Spain in October 2018, where the three winners will be announced.