SANTA CLARA, Calif., June 6, 2011 — The eighth annual Silicon Valley Boomer Venture Summit will showcase the latest in mobile and digital advertising trends; new product-distribution channels, and tips and insights to help entrepreneurs, marketers and corporate strategists sharpen their businesses serving the baby-boomer market.
The event is taking place at Santa Clara University’s Leavey School of Business from 7 a.m. to 5:30 p.m. June 15, 2011. The full agenda for the event — the theme of which is “Design for All”— is available at http://www.scuboomerventure.com/agenda.html.
The boomer marketplace is large and growing. There are currently 78 million baby boomers, born between 1946 and 1964, in the U.S., possessing 90 percent of the country's net worth and 78 percent of all financial assets. Moreover, by 2030, the number of Americans over age 65 will double to 71.5 million.
The Summit brings together industry analysts, venture capitalists, entrepreneurs, and business leaders in the field of aging to create a unique forum to explore business ideas, share trends and best-practice information, and design products and services to serve the baby-boomer market in the coming years. Some sessions will cover business financing, including where venture capitalists are investing now in the boomer market segment.
The Summit culminates with two competitions: The Boomer Business Plan and the Elevator Pitch Competition. Finalists will present business ideas for tapping into the boomer marketplace to a panel of judges comprised of leading venture capitalists and experts in the field of aging. Winners will receive a $10,000 grand prize for the best business plan, and $1,000 for best elevator pitch.
This year’s finalists have proposed products and services in a variety of channels within the boomer and senior marketplace, including health and wellness, technology, design and nutrition. A list of business plan competition finalists can be found at http://www.scuboomerventure.com/competitions/finalists.html
“The 'longevity marketplace' for boomers and seniors is akin to the Internet in 1996,” said Mary Furlong, event producer and professor of entrepreneurship at Santa Clara University. “The difference is there is no bubble when it comes to the opportunity regarding aging. The Summit provides a forum for talented entrepreneurs and the venture capital community to connect around this growing and lucrative marketplace.”
The Summit’s sponsors include AARP, Continuum Crew, First Republic Bank, Southwest Airlines, firstSTREET, UnitedHealthcare, ABHOW, Caring.com, GrandCare Systems, Linkage Ventures, Silverado and SilverRide.
To register online visit www.scuboomerventure.com/register. Costs range from $120 – $195, including special rates for students.
About the Leavey School of Business
The Leavey School of Business at Santa Clara University began in 1923, and was one of the first business schools in the country to receive national accreditation. Its undergraduate business, MBA and Executive MBA programs are consistently ranked among the top in the nation. The curriculum at all levels emphasizes the leadership role of business in creating an ethical society as well as business responsibilities for social justice and sustainability in the global marketplace. The School opened its new $49 million building for undergraduate, graduate, and professional business education in Fall 2008. For more information, see www.scu.edu/business/
About Mary Furlong & Associates
Mary Furlong & Associates works with companies seeking to capitalize on new business and investment opportunities in the boomer market. The company provides business development, financing strategy and integrated marketing solutions to entrepreneurs, corporations and non-profit organizations serving the 50+ market. Mary Furlong is the Dean’s Executive Professor of Entrepreneurship at Santa Clara University's Leavey School of Business. For more information: www.maryfurlong.com.
Deborah Lohse | SCU Media Relations | (408) 554-5121 | firstname.lastname@example.org
The Business Plan Finalists this year are:
• AfterSteps, an online end-of-life planning platform. It enables customers to create, store, and transfer their plan to designated beneficiaries. This provides users peace of mind and control, and reduces the stress and expenses for surviving loved ones.
• Clear Ear, a cost-effective impacted earwax removal technology platform for underserved global elderly population. Over 55 percent of the hearing aid users and seniors suffer from this condition and its clinical consequences. Even in developed countries, syringing – the most commonly performed removal method – leads to a 38 percent complication rate.
• MEMStim, a fabless semiconductor company that designs and sells electrode leads to medical-device companies for use in neurostimulators. Their patented technology enables medical-device companies to eliminate costly manual assembly processes while creating the next generation of neurological therapies.
• Oculeve REVIVE. For millions of baby boomers, severe dry eye is a cripplingly painful disease that threatens vision with no effective treatments in a $2 billion market. Oculeve's REVIVE is a therapy developed at Stanford University that restores natural tear production.
• OMyMeds. A medication-reconciliation service, OMyMeds aggregates prescriptions automatically from pharmacy and insurance websites and includes patient interviews to generate an updated, accurate medication list, with pill images, in an easy-to-understand format.
• Pontus Medical is dedicated to improving the lives of heart-failure patients by preventing re-hospitalizations. Their low-cost solution consists of wearable patches that predict exacerbation in these patients by non-invasively monitoring their fluid status and providing actionable information.
• Quipu, a biomedical company with patent technology from the Italian National Research Council, develops non-invasive systems for early and accurate diagnosis of cardiovascular risk.
Best Elevator Pitch finalists are:
• Cadence Biomedical is developing a new class of kinetic orthotic products based on proprietary technologies that provide therapeutic rehabilitation for people who otherwise would require wheelchairs for mobility, enabling them to walk independently and achieve an enhanced quality of life.
• Entrée provides seniors with access to an easy-to-use Internet interface which will enhance their quality of life through connectivity. Entrée serves as a hub linking seniors to existing web-based services.
• Personal Spokesman is an application representing the new generation of text-to-speech for mobile. It reads and enlarges any text which appears on the smartphone screen, in every language, with a natural human voice.
• Golden Health Guide
• Fall Stop. Move Strong is a joyful dance and education based program with a proven track record of keeping older adults active and safe at home and in their communities. The program, developed by a professional dancer/fitness expert and an occupational therapist, reduces injuries, increases confidence and vitality, lowers health costs, and maintains independence and quality of life.
• myDen™ provides seamless integration of network and streaming broadband content delivered to the television, for seniors and others. The cloud-based, cross-platform solution is backed with customer service, and becomes the central portal for affordable and unobtrusive aging-in-place technologies in the home. myDen is developed by Flipper LLC, manufacturer of Flipper Remote Control.
• SmithWorks™. Products for the mobility-impaired that have the look-and-feel of the brands affluent seniors have grown to love. SmithWorks designs and distributes aesthetically pleasing and customizable mobility-enhancing gear that fits the way affluent seniors already accessorize their lifestyles.
• Surprisingly Vegan is a packaged-foods company that will provide vegan and gluten-free products to the natural foods market. Its flagship product, a just-add-water whole-grain waffle mix, will be available online and in select retailers later this year.