A landmark funding competition has been launched today to boost innovations that will enable people to live better for longer.
The Trailblazer Competition, led by UK Research and Innovation (UKRI) and funded by the government’s Healthy Ageing Challenge Fund, is offering up to £40 million to fund solutions that will help people to enjoy at least five additional healthy, independent years of life.
The competition, which opens today for applications, will provide funding for ideas that fill gaps in the market with aspirational, affordable and easily accessible products and services. UKRI is calling on entries from across the board, from businesses to public sector organisations to social enterprises that can develop and deliver such products and services at scale.
Anna Dixon, Chief Executive of the Centre for Ageing Better and a member of the Industrial Strategy Challenge Fund Programme Board, commented:
“The Trailblazer Competition is an exciting opportunity for businesses to deliver products and services which over-50s will actually want to use and buy. Many developers, designers and marketeers treat everyone aged 50+ the same, and there’s a sorry selection of products and services on offer as a result.
“Over-50s account for nearly half of all consumer spending. With smart thinking and creativity, businesses can make the most of the growing over-50s market and unlock substantial opportunities to grow the UK economy.
“From innovative solutions to helping maintain health at work to inclusive products supporting people to live independently at home for longer, developing and bringing to market products that meet the diverse needs and wants of people over the age of 50 is a win-win.”
To apply for the Trailblazer competition, visit the UKRI website.
