The AARP is partnering with Pfizer Inc. and UnitedHealthcare to launch a program called Project Catalyst that will help technology companies better understand the needs of the nation’s aging population and improve their products accordingly.
Project Catalyst’s first study focuses on sleep trackers and activity trackers, two types of health-monitoring technology that are growing in popularity.
In the study, which will be conducted by the Georgia Tech Research Institute, the behavior of 80 subjects ages 50 and older will be monitored as they use five different sleep and activity-tracking devices for six weeks. Researchers intend to observe and record how participants engage with the technology and determine what elements of each piece of technology can be improved to better suit the needs of the users.
Broad results of the study will be made available in June, and the developers of the individual pieces of technology studied will receive detailed information on the results pertaining to their products in order to inform their ongoing development and innovation.
“Technology that is designed well – designed for all – can be used by a 5-year-old and a 95-year-old, alike. We are thrilled about starting this study and commencing the launch of the Project Catalyst program,” said Jody Holtzman, AARP senior vice president of Thought Leadership. "The goals of Project Catalyst are in direct alignment with the mission of AARP – to identify challenges and determine solutions to improve the quality of life for people as they age."
Project Catalyst is not the AARP’s first venture into making sure that the product needs of the over-50 population aren’t overlooked.
For the past three years, the AARP’s Innovation Team has conducted a series of “LivePitch” events to showcase startups and entrepreneurs that create health-related technology targeted at the 50-and-older population.
The events have drawn over 400 applications since they began, and have enabled companies to raise approximately $47 million in venture capital independent of the AARP.
Last year, the AARP partnered with UnitedHealthcare to launch a website titled The Longevity Network, which promotes areas of potential investment and innovation relevant to the needs of those 50 and older.
Quoting a study titled, “The Longevity Economy,” the AARP said in a statement that the 50-and-older demographic it represents is comprised of over 100 million people currently responsible for at least $7.1 trillion of economic activity per year. That figure is expected to exceed $13.5 trillion by 2032, according to the study.
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