MATTER launches new accelerator to improve caregiving

Accelerator seeks technology-enabled innovations to navigate caregiving or improve caregiver well-being

May 31, 2023, CHICAGO — MATTER, the premier healthcare incubator and innovation hub, today opened applications for a new accelerator to support entrepreneurs with solutions to navigate caregiving or improve caregiver well-being. The initiative is the second annual Accelerating Innovation in Aging program, which MATTER developed with the support of RRF Foundation for Aging.

Fifty-three million adults in the U.S. are family caregivers, and that number is increasing rapidly.1 Family caregivers are frequently overwhelmed with navigating and juggling the disparate and perplexing responsibilities of caregiving — all while trying to maintain their own self-care and manage personal responsibilities. In addition to providing direct care for their loved ones, family caregivers often function as medical coordinators, guardians, personal assistants and support systems for family members.2

Their responsibilities often take a toll. While many caregivers feel their role has given them a sense of purpose or meaning (51 percent), these positive emotions often coexist with feelings of physical, emotional and financial stress or strain.1

“RRF Foundation for Aging is dedicated to ensuring that unpaid caregivers of older adults are informed, well trained and supported,” said Mary O’Donnell, president of RRF Foundation for Aging. “Supporting entrepreneurs with innovations to navigate the complexities of caregiving and improve caregiver well-being will enable us to contribute to enhancing the caregiving experience for millions of Americans, ultimately helping caregivers and the older adults they’re caring for live better, healthier lives.”

“Supporting entrepreneurs with innovations to navigate the complexities of caregiving and improve caregiver well-being will enable us to contribute to enhancing the caregiving experience for millions of Americans, ultimately helping caregivers and the older adults they’re caring for live better, healthier lives.” — Mary O’Donnell, President of RRF Foundation for Aging

There is an enormous opportunity for entrepreneurs to be a part of the solution to the challenges of caregiving and those faced by caregivers. Specific focus areas for the accelerator include, but are not limited to, platform solutions to connect caregivers and professionals, information tracking and sharing, caregiver support and training resources and assistive devices.

“The current unpaid caregiving landscape is unsustainable for the millions of Americans who act as care partners for loved ones,” said Steven Collens, CEO of MATTER. “By bringing resources and opportunities for collaboration with industry-leading organizations to entrepreneurs’ fingertips, we will accelerate the development and adoption of caregiving solutions.”

“By bringing resources and opportunities for collaboration with industry-leading organizations to entrepreneurs’ fingertips, we will accelerate the development and adoption of caregiving solutions.” — Steven Collens, CEO of MATTER

This year’s 12-week accelerator will provide startups with mentorship, resources and curriculum to help them build their solutions and refine their value propositions. Participants will also have the opportunity to work with the MATTER and RRF Foundation for Aging communities, pitch their solutions to potential investors, partners and clients for the chance to win a $10,000 cash award and graduate with actionable next steps to further advance their solutions over the subsequent six months with a free MATTER membership.

“The ability to have direct communication with healthcare leaders in our specific space is extremely valuable for a company at our stage,” said Osvaldo Montelongo, founder and CEO of ConnectCareHero and a participant in last year’s Accelerating Innovation in Aging program, which focused on social isolation and loneliness in older adults. “The opportunity came at a time when we were scaling our product across our customers, and we continue to add more unique features to make our solution the market leader.”

“The ability to have direct communication with healthcare leaders in our specific space is extremely valuable for a company at our stage.” — Osvaldo Montelongo, Founder and CEO of ConnectCareHero

Interested startups can learn more and apply by visiting the accelerator page. Applications are due July 14, 2023, at 11:59pm CT.

Sources:

  1. “Caregiving in the United States 2020,” AARP and The National Alliance for Caregiving, 2020.
  2. “​​The COPD Caregiver’s Toolkit,” National Heart, Lung and Blood Institute, 2022.

About MATTER

At MATTER, we believe collaboration is the best way to improve healthcare. The MATTER collaborative includes more than 800 current and alumni startups from around the world, working together with dozens of hospitals and health systems, universities and industry-leading companies to build the future of healthcare. Together we are accelerating innovation, advancing care and improving lives. For more information, visit matter.health and follow @MATTERhealth.

About RRF Foundation for Aging

For more than 40 years, RRF Foundation for Aging, formerly The Retirement Research Foundation, has been funding programs that support older adults. The Foundation has awarded more than 5,000 grants worth more than $250 million — all dedicated to improving the quality of life for all of us as we age. RRF’s grantmaking focuses on four priority areas — caregiving, economic security in later life, housing, and social and intergenerational connectedness. These issues are fundamental to allowing all of us to age where we want to and how we want to. RRF was one of the first private foundations to focus exclusively on aging issues, and continues to support a range of advocacy, direct service, research, training, and organizational capacity building efforts, both in Illinois and nationally. Learn more at www.rrf.org.