There is no doubt that India is the land of Startups and luckily the same bug has bitten the Elder Care sector too.
In the recent past there has been positive traction to develop innovative solutions for Aged Care and many small companies and startups are joining the bandwagon.
To support new ideas and opportunities for the Silver Economy, Ministry of Social Justice and Empowerment had created an initiative called SAGE.
The Seniorcare Ageing Growth Engine (SAGE) is to identify, evaluate, verify, aggregate, and deliver products / solutions / services directly to the stakeholders, giving them wide choice to select the products / solutions / services that would suit their requirements, thereby improving their quality of life.
The Ministry of Social Justice and Empowerment would act as the facilitator in the process while ensuring that the products / solutions / services are made available to a large number of needy people.
Start-ups already functioning in the elderly segment in India proposing to expand operations.
All the startups fulfilling the startup norms as per guidelines by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce, Govt. of India are eligible for applying.
The recent Minutes of Meeting on Evaluation of SAGE by Empowered Expert Committee (EEC), 10th & 11th January 2024, is attached for reference so that many new startups can explore financial support.
The document Seniorcare Ageing Growth Engine can be downloaded here or can be accessed below