It’s no secret Sacramento is a terrific environment for startups. Access to talent, investors, accelerator programs, an international airport, the proximity to the Bay Area and Silicon Valley, and a lower cost of living make California's capitol city ideal for new companies, especially those focused on technology for the aging population.
There are many features that distinguish Sacramento from other startup-friendly communities:
A growing senior population.
Americans aged 65+ will more than double by 2060. California is projected to be among the fastest growing states. By 2040, nearly 500,000 people age 60 and over are expected to live in Sacramento County.
This growing field addressing the needs of seniors combines gerontology and technology. It blends technology and innovation to address the challenges of aging and caregiving. For the savvy entrepreneur, it’s potentially the pot of gold at the end of the rainbow.
AARP reported in January 2016, “Companies from established multinationals to startups, mass-market firms to niche players, are recognizing a (senior) caregiving market opportunity that’s expected to reach $72 billion in 2020.”
It's a scalable city.
Sacramento reflects the overall makeup of the United States. An indication of how a product or service may perform nationally can be obtained locally. For startups targeting the 60+ crowd, Sacramento seniors offer an invaluable wealth of feedback to entrepreneurs. Innovation and technology may come from the youth, but practicality, insights and reality checks come from seniors.
Lot's of support available.
Sacramento offers an infrastructure of support. In addition to the Hacker Lab, Urban Hive, Sacramento Entrepreneurship Academy, SCORE, Sacramento Business Services Center and numerous Meetup groups, startup specialty groups are locating in Sacramento. Additionally, the Sacramento Chapter of Aging2.0 helps entrepreneurs who target the senior market.
Keri Vogtmann, ambassador of the Sacramento Aging2.0 chapter says, “Given the Sacramento landscape with its innovation, startup resources, and investor support, we have a real opportunity to be the epicenter of gerontechnology.”
Sacramento Aging 2.0 partnered with Eskatonand KVIE to find local startups who have the potential to make the greatest impact on aging. The Global Startup Search competition will be on Tuesday, April 18, 5:30 PM to 8:00 PM.
CLICK HERE to get your tickets.
Caregiving Innovation Frontiers, http://www.aarp.org/content/dam/aarp/home-and-family/personal-technology/2016-01/2016-Caregiving-Innovation-Frontiers-Infographics-AARP.pdf
Normal America’ Is Not A Small Town Of White People by Jed Kolko, April 28, 2016. https://fivethirtyeight.com/features/normal-america-is-not-a-small-town-of-white-people/