Age Tech California, Pasadena, CA – 15 November 2012
AGEnda•    Introductions •    Innovation Overview•    Best Practices & Case Studies•    Innovation in the Aging Space•    ...
Introductions     Katy Fike PhD !   Stephen Johnston MBA!
Innovation Overview
Innovation is a change in thethought process, products,  processes or services for   doing something, or the  useful appli...
Transportation Revolution
“If I asked customers what  they wanted, they would have said a faster horse.”              – Henry Ford
Best Practices "& Case Studies
Design Thinking                    Key Principles:!                    •  Human-centered                    •  Observation...
Lean Startup Methodology                        Key Principles:!                        •  Fail fast, early & often       ...
Open Innovation                    Key Principles:!                    •  Crowdsourcing ideas from                       e...
Jobs to be Done Framework                Key Principles:!                •  Your competition is anyone                   w...
Innovation in the "  aging space
The 50+ Innovation Paradox Unparalleled demographic shifts…                                 …yet disproportionately little...
Disconnect               21	  
The need for innovation in the aging space                       •    Rising consumer expectations                       •...
Care Revolution   Almshouse	                     Skilled	  Nursing	                  Assisted	  Living	     ?	            ...
How do you defineinnovation in the aging        space?
Innovation in Aging           =Improved quality of life           +   Decreased costs
Aging Reimagined
Safety1.0             2.0
Groceries and MealsGrocery	  Shopping	  &	  Meal	  PreparaGon	             1.0                          2.0
Housework 1.0                   2.0
Shopping1.0               2.0
Transportation1.0                     2.0
Medication Management1.0                        2.0
Financial Management1.0                           2.0
Family Caregiving1.0                        2.0
Health Monitoring1.0                        2.0
Healthcare Access1.0                        2.0
Housing1.0              2.0
Replaced by Technology?
Tips for innovators in the       aging space
Observe with fresh eyes & empathize
Become a Living Lab: Involve your clients /residents in research and ideation
Encourage problem solving andentrepreneurship among clients and staff
Expand your definition of the problem to be solved
Be a pilot site
Host External Innovation Challenges
Partner and co-develop with technology startups                        &	  	  
Crowdsource ideas
Leverage Student Talent
Leverage Web2.0 tools to engage anextended community of stakeholders
Look for inspiration from tangential situations
Think outside your brand / your industry                  What would !                     these !                  Brands...
Want to raise your   quotient? " Get involved..
Reframing aging: A mindset shift                                Aging 2.0                               Opportunity       ...
Four tools to build an innovation ecosystem55	  
The Global Tour Continues                                                            By 10/11/12                          ...
Aging2.0 Themes      Connected                          Empowered                          LIFEstyle     Independence     ...
Our program addresses the barriers we see         in the market                         •    Access to target market throu...
Get Involved    www.aging2.com
Thanks! Katy Fike PhD !        Stephen Johnston MBA!katy@innovate50.com      stephen@fordcastle.comkaty@aging2.com        ...
AgeTech CA Conference  Nov 2012 - Katy & Stephen
AgeTech CA Conference  Nov 2012 - Katy & Stephen
AgeTech CA Conference  Nov 2012 - Katy & Stephen
AgeTech CA Conference  Nov 2012 - Katy & Stephen
AgeTech CA Conference  Nov 2012 - Katy & Stephen
AgeTech CA Conference  Nov 2012 - Katy & Stephen
AgeTech CA Conference  Nov 2012 - Katy & Stephen
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AgeTech CA Conference Nov 2012 - Katy & Stephen

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Presentation by Katy Fike, PhD and Stephen Johnston, MBA to AgeTech CA Conference, 15 November 2012.

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AgeTech CA Conference Nov 2012 - Katy & Stephen

  1. Age Tech California, Pasadena, CA – 15 November 2012
  2. AGEnda•  Introductions •  Innovation Overview•  Best Practices & Case Studies•  Innovation in the Aging Space•  Aging2.0
  3. Introductions Katy Fike PhD ! Stephen Johnston MBA!
  4. Innovation Overview
  5. Innovation is a change in thethought process, products, processes or services for doing something, or the useful application of new inventions or discoveries."
  6. Transportation Revolution
  7. “If I asked customers what they wanted, they would have said a faster horse.” – Henry Ford
  8. Best Practices "& Case Studies
  9. Design Thinking Key Principles:! •  Human-centered •  Observation & empathy •  Optimistic ideation •  Prototyping & experimentation •  Customer experience
  10. Lean Startup Methodology Key Principles:! •  Fail fast, early & often •  Inexpensive experimentation •  Validated learning •  Iterative product releases •  Continuous customer feedback Definition: Minimum viable product (MVP) is the version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort.
  11. Open Innovation Key Principles:! •  Crowdsourcing ideas from external sources •  Innovation through partnership •  Diverse perspectives •  External inspiration
  12. Jobs to be Done Framework Key Principles:! •  Your competition is anyone who helps your customer accomplish the same jobs-to- be-done.
  13. Innovation in the " aging space
  14. The 50+ Innovation Paradox Unparalleled demographic shifts… …yet disproportionately little innovation Where are the start-ups? Where are the disruptive models? Where are the major brands? Where are the investments? Where are the big exits? 20  
  15. Disconnect 21  
  16. The need for innovation in the aging space •  Rising consumer expectations •  Increased longevity •  Higher acuity •  Changing economics •  New family dynamics •  Shortages: Geriatricians, nurses, PT/OT, caregivers, SNF beds
  17. Care Revolution Almshouse   Skilled  Nursing   Assisted  Living   ?   In  home  care  |  CCRC  w/o  walls   CCRC    
  18. How do you defineinnovation in the aging space?
  19. Innovation in Aging =Improved quality of life + Decreased costs
  20. Aging Reimagined
  21. Safety1.0 2.0
  22. Groceries and MealsGrocery  Shopping  &  Meal  PreparaGon   1.0 2.0
  23. Housework 1.0 2.0
  24. Shopping1.0 2.0
  25. Transportation1.0 2.0
  26. Medication Management1.0 2.0
  27. Financial Management1.0 2.0
  28. Family Caregiving1.0 2.0
  29. Health Monitoring1.0 2.0
  30. Healthcare Access1.0 2.0
  31. Housing1.0 2.0
  32. Replaced by Technology?
  33. Tips for innovators in the aging space
  34. Observe with fresh eyes & empathize
  35. Become a Living Lab: Involve your clients /residents in research and ideation
  36. Encourage problem solving andentrepreneurship among clients and staff
  37. Expand your definition of the problem to be solved
  38. Be a pilot site
  39. Host External Innovation Challenges
  40. Partner and co-develop with technology startups &    
  41. Crowdsource ideas
  42. Leverage Student Talent
  43. Leverage Web2.0 tools to engage anextended community of stakeholders
  44. Look for inspiration from tangential situations
  45. Think outside your brand / your industry What would ! these ! Brands do?!
  46. Want to raise your quotient? " Get involved..
  47. Reframing aging: A mindset shift Aging 2.0 Opportunity Healthcare, Wellness, Lifestyle Design for all Mission and Business Driven Aging in Community For-profit / non-profit partnerships, entrepreneurship 54  
  48. Four tools to build an innovation ecosystem55  
  49. The Global Tour Continues By 10/11/12 By 12/31/13 MidOcean    |    11/19/12    |       Aging  2.0   56  
  50. Aging2.0 Themes Connected Empowered LIFEstyle Independence Caregiving (not Deathstyle) 90% of older adults More than $25B annual Boomers control 70% of US want to age-in-place loss of productivity to caregiving disposable income 75.8 million Baby Boomers > 44 million US caregivers 50+ consumers = 1.6 million skilled nursing beds. Providing 20 hrs / week (average) 80% of luxury travel spend Aging  2.0       57  
  51. Our program addresses the barriers we see in the market •  Access to target market through established partnerships Consumer •  Market research and insights from Aging2.0 proprietary research Insights •  Market specialists / centralized resources: product design, graphic design, Strategic marketing, branding, PR Partners •  Operational partnerships (legal, IT etc.) •  Customer pilots •  Channel partners and challenges Distribution •  Demo days •  World class, global mentor network •  Structured curriculum, online tools and resources Talent •  Peer group support, regular meetings •  Seed funding •  In-kind support Funding •  Sponsorship58  
  52. Get Involved www.aging2.com
  53. Thanks! Katy Fike PhD ! Stephen Johnston MBA!katy@innovate50.com stephen@fordcastle.comkaty@aging2.com stephen@aging2.com562 440 3095 914 417 9471

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