Singapore Investing in Changing Aging Technology

Dig this news from Singapore via futurereadysingapore.com and how their government is talking about aging.  The Singapore Government is tripling funding support for aging in place technology inititiatives to $10 million over the next two years.  The funding support is for innovative and affordable solutions, which enable seniors to live and remain in the community, across the health and social care continuum.

This is a key step in Singapore’s approach to develop innovative healthcare technologies, products and services for what they call "the silver community." It presents a platform for companies to test and develop their health and wellness innovations at proof-of-concept stage in public hospitals, community hospitals, elder care facilities and public households.

“Seniors generally desire to live independently at home and we hope to live a life that is integrated with our family, friends and community. Our recent Sample Household Survey indicated that more than half of our seniors preferred to live with or close to their children, and seniors have become more active and engaged in the community, compared to a decade ago. As the world ages, the global demand for solutions to enable seniors with care needs to live at home, integrate care across the hospital-to-home settings and manage their own health will grow very rapidly.” says Mr Lim Boon Heng, Minister in the Prime Minister’s Office.

“With the economy of Singapore evolving into one based on Research Innovation and Enterprise there will be many opportunities to develop unique solutions in many fields for the world market. One of these fields is health care. With a fast ageing population, Singapore has to find solutions that will help seniors to have a higher quality of life at an affordable cost. This demand can best be met by the rapid conversion of results from research being done in our tertiary institutions and research institutes into innovative products and services by our industries. Test-bedding will prove that these products and services can work and be of value to seniors. Products and services that will be successful in Singapore will also be able to meet Asia’s fast-growing healthcare needs. We are committed to work with companies to co-develop innovative solutions for Singaporeans and the region at large, and the Silver Community Test-Bed Programme is one key platform,” says Prof Lui Pao Chuen, Chairman, Silver Community Testbed Programme Evaluation Panel.

The grant call is open to companies and institutions. Submitted proposals will be evaluated by a panel co-chaired by Prof Lui Pao Chuen and Ms Chong Siak Ching, President and CEO of Ascendas.