MATTER launches third annual Accelerating Innovation in Aging accelerator to improve caregiving

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

August 12, 2024, CHICAGO, IL — MATTER, the premier healthcare incubator and innovation hub, today opened applications for a new accelerator to support entrepreneurs with technology-enabled innovations that improve caregiver well-being or assist families in navigating caregiving. The initiative is the third annual Accelerating Innovation in Aging program, which MATTER developed with the support of RRF Foundation for Aging. This year’s program will also be supported by Next50 and the Samuels Foundation.

There are an estimated 38 million unpaid caregivers in the United States, most of whom are the spouses, children and other relatives of family members who need support.1 These caregivers, who generally have no training or experience with caregiving, often take on multiple roles, serving not only as medical coordinators, guardians and personal assistants but also as support systems and family members.2

“RRF Foundation for Aging is committed to empowering caregivers of older adults with essential knowledge and support,” said Mary O’Donnell, president and CEO of the foundation. “By supporting entrepreneurial innovations that address the challenges of caregiving and enhance caregiver well-being, we strive to significantly improve the lives of millions of American families.” Specific focus areas of the Accelerating Innovation in Aging accelerator include, but are not limited to, solutions that connect caregivers to professionals, information tracking and sharing technologies, caregiver support and training resources and assistive devices.

“Most family caregivers find themselves in this role based on the needs of someone they love, not because they have prior experience that could help them with the challenge,” stated Steven Collens, CEO of MATTER. “Our unpaid caregivers need help, and we look forward to helping outstanding entrepreneurs build solutions that can provide some of the help that is so badly needed.”

This year’s 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, RRF Foundation for Aging, Next50 and Samuels Foundation communities, and pitch their solutions to potential investors, partners and clients for the chance to win a $10,000 cash award.

For more information and to apply, please visit the Accelerating Innovation in Aging webpage. Applications are due September 27, 2024, at 11:59pm CT.

Sources:

  1. “New AARP Report Finds Family Caregivers Provide $600 Billion in Unpaid Care Across the U.S.,” AARP, 2023.
  2. “Caregiving in the United States 2020,” AARP and The National Alliance for Caregiving, 2020.

About MATTER
At MATTER, we believe collaboration is the best way to improve healthcare. The MATTER collaborative includes more than 1,000 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 45 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.

About Next50
Next50 is a Colorado-based national foundation that works toward a society that values aging and makes growing older an empowering, fulfilling experience. Today, our systems in the U.S. don’t prioritize our economic well-being as we age, which causes widespread economic hardship for older adults and their families. That’s why we focus on funding innovative and equitable programs that create economic opportunity for older adults, especially in low-income communities and communities of color. We fund programming in three key areas: ending age-related bias and discrimination; advancing digital equity so technology is available to all; and making it possible for people to age where they want to live.

About Samuels Foundation
The Fan Fox & Leslie R. Samuels Foundation’s (the Samuels Foundation) Healthy Aging Program supports patient-based and social service activities that directly improve the quality of life of the elderly of New York City. Its aim is to improve the way health and social services are delivered by providing support for innovative, effective, efficient and caring organizations. For more information, visit www.samuels.org.