The SENovation Award is a competition focused on the target group of "seniors." Founders can be as old as they like, but the startups should develop solutions for an aging society. The deadline for submissions is June 30, 2018.
Young, creative, and interested in seniors: a contradiction? Not at all, according to the initiators of the SENovation Award – the first startup competition for startups dedicated to products and services for older people. After all, in almost all consumer sectors in Germany, those over 65, as the economically strongest demographic, set the tone. Yet, this future market is barely considered by startups.
Many young founders focus on the needs of their own generation, ignoring a multi-billion dollar market: By 2020, the purchasing power of people over 60 worldwide is expected to reach $15 trillion.
Cars, travel, luxury items — it's about more than just care products
The competition is aimed at startups no more than two years old that have developed offerings specifically for seniors or that specifically target older people with a cross-generational solution. Companies in the start-up phase can also apply with a coherent concept for an age-appropriate product. This includes not only care products, but also cars, travel, household appliances, hobby equipment, and luxury items.
Two winners (teams) will each receive prize money of €5,000. Both startups will also receive individual support in further developing their business ideas. The competition is sponsored by the German Senior Citizens' League (Deutsche Seniorenliga eV) and the Signal Iduna Group.
Further information on conditions of participation, jury and prize as well as Background information is available here. Companies can apply until June 30, 2018.
