AgeGroup is a proud media partner of AgeingFit 2024, taking place in Lille, France, on the 11th and 12th of March 2024. Ahead of the event, we’ve interviewed several individuals participating in the event to learn more about them and their businesses. In this feature, we meet Mel Barsky from the Centre for Aging + Brain Health Innovation.

Hi Mel, thanks for meeting with us. Please go ahead and introduce yourself to our readers.

I’m Mel Barsky, from the Centre for Aging + Brain Health Innovation (CABHI).

CABHI is a government-funded accelerator and early-stage investor targeting health tech, life sciences, and fintech companies that intersect with aging, brain health, and improving quality of life for older adults. Currently, CABHI is Canada’s most active private investor (CVCA) and North America’s most active agetech investor (Pitchbook). We typically invest in ~40 companies per year across the pre-seed, Seed, and Series A stages.

We have a long, rich history of investing in and advancing technologies with a focus on aging adults, dementia/brain health, and the health ecosystem supporting longevity. Since inception, we have directed over $200million to help researchers, clinicians, and private industry develop and validate over 500 innovations through a combination of grant and equity investments. Our equity portfolio has made over 60 investments to date and has a current enterprise value of over $1billion.

That’s quite the presence! What is your vision of your role in the sector?

To accelerate the development, validation, commercialisation, dissemination and adoption of innovative products, services and best practices to support brain health and aging.

A very clear and concise mission! So is healthy aging a field like any other?

This is an emerging area of need that still largely underserved and growing rapidly.

The goal of healthy aging is to enhance the quality of life and functional capacity of older individuals, allowing them to remain active, independent, and engaged in their communities for as long as possible. This field has become increasingly important as populations around the world are aging, leading to greater interest and investment in understanding how to promote health and well-being in older adults.
The field of healthy aging presents a significant opportunity today for several reasons:

Demographic Shifts: Many countries are experiencing demographic shifts towards older populations due to declining birth rates and increasing life expectancy. This demographic trend creates a growing market for products and services tailored to the needs of older adults, including healthcare, housing, transportation, leisure activities, and technology.

2. Economic Benefits: Healthy aging can contribute to economic growth by promoting workforce participation among older adults, reducing healthcare costs associated with age-related diseases, and fostering innovation in products and services targeting older consumers. Investing in preventive healthcare measures and supportive environments for aging populations can lead to long-term savings and improved productivity.

3. Social Impact: Promoting healthy aging enhances the quality of life for older adults, allowing them to remain active, independent, and socially connected. This, in turn, reduces social isolation and loneliness, which are significant contributors to poor health outcomes among older individuals. Investments in community-based programs, social support networks, and age-friendly infrastructure can foster inclusive societies and promote intergenerational solidarity.

4. Technological Innovation: Advances in technology have the potential to revolutionize healthy aging by providing solutions for monitoring health metrics, managing chronic conditions, promoting physical activity, supporting cognitive function, and facilitating social interaction. Investing in research and development in areas such as telemedicine, wearable devices, smart homes, robotics, and artificial intelligence can improve the health and well-being of older adults while creating opportunities for economic growth and job creation.

5. Policy Imperatives: Governments and international organizations are increasingly recognizing the importance of healthy aging as a policy priority to address the challenges and opportunities associated with aging populations. Investing in healthcare systems, social services, and infrastructure that support healthy aging is essential for achieving sustainable development goals related to health, equity, and social inclusion.

Overall, investing in healthy aging presents a compelling opportunity to promote individual well-being, economic prosperity, and social cohesion in an aging world. By prioritizing preventive healthcare, supportive environments, technological innovation, and inclusive policies, stakeholders can harness the potential of aging populations to contribute to a healthier, more prosperous, and resilient society.

So what is your broader vision of the field and of innovation?

Our vision isa world where every older person lives a life with purpose, fulfillment, and dignity.

With the opportunities in this field and in CABHI’s portfolio, we believe innovation can and will generate meaningful impact and transform the lives of older adults, caregivers, the health ecosystem.

CABHI is predominantly evolving in the North American market. In what way do you feel it is different to the European market?

Our organization is international in scope and focus. We are Canadian based and helping those best Canadian innovations grow globally to help aging populations everywhere; and in turn looking for those best global innovations to bring to Canada. There are many products, services and solutions that are ubiquitous to all markets. We look at key aging markets such as Japan in terms of what we may expect as our populations shift to similar age demographics as ie. Japan is experiencing today. In Europe we find there are unique models of care for older adults such as dementia friendly communities in Northern European countries such as Denmark and Norway. These are great models for North America to review best practices from.

In your opinion, what are some of the biggest challenges facing start-ups in the ageing sector, and how can investors play a role in overcoming these challenges?

Start-ups in the aging sector, which focuses on products and services for elderly individuals, face several unique challenges:

1. Regulatory Hurdles: The aging sector often involves healthcare-related products and services, which are subject to stringent regulations. Navigating these regulatory frameworks can be time-consuming and expensive for start-ups.

2. Complex Customer Needs: Older adults often have complex and diverse needs, ranging from healthcare to social connectivity. Start-ups must understand these needs and develop solutions that address them effectively.

3. Market Education: Convincing elderly individuals and their caregivers of the benefits of new products and services can be challenging. Start-ups must invest in marketing and education efforts to raise awareness and adoption.

4. Integration with Existing Systems: Many solutions in the aging sector need to integrate with existing healthcare and support systems. Ensuring seamless integration can be a significant challenge for start-ups.

5. Privacy and Security Concerns: Products and services in the aging sector often collect sensitive personal data. Start-ups must prioritize privacy and security to earn the trust of their users.

Investors like CABHI can play a crucial role in overcoming these challenges by:

1. Providing Funding: Start-ups in the aging sector require significant investment to develop and scale their products and services. Investors can provide the necessary capital to fuel growth and innovation.

2. Offering Expertise and Mentorship: Experienced investors can offer valuable insights and guidance to start-ups, helping them navigate regulatory challenges, refine their business models, and develop effective go-to-market strategies.

3. Facilitating Partnerships: Investors like CABHI with extensive networks can help start-ups form strategic partnerships with healthcare providers, insurers, and other relevant stakeholders. These partnerships can accelerate market adoption and facilitate integration with existing systems.

4. Supporting Market Education: Investors can support start-ups’ marketing and education efforts by providing resources and connections to reach elderly individuals and their caregivers effectively.

5. Promoting Responsible Innovation: Investors should prioritize investments in start-ups that prioritize privacy, security, and ethical considerations in the development of their products and services. By promoting responsible innovation, investors can help build trust and credibility in the aging sector.

Thank you for that comprehensive overview. Next, can you tell our readers a little about your role at AgeingFit 2024? Where and how can attendees connect with you both at the event and elsewhere? Could you explain how important it is for you to support this event?

I will be speaking at AgeingFit on 11th March on the topic of: Making the Silver Economy a reality: Changing perspective to make ageing a source of new economic opportunities.

My colleague James Meyer will be a judge at the Pitch Competition.

We are proud to be supporters of AgeingFit and the Pitch Competition! The pitch winner will get access to CABHI discounted services along with the CABHI Leap Prize (one end user engagement focus group or survey via CABHI’s Leap platform). Plus, the top three companies will receive complimentary virtual booths at CABHI’s 2024 Virtual Summit on March 26th, 2024.

Thank you very much for your time. Is there any additional information you would like to share with AgeGroup and our readers and partners?

We encourage all interested in learning more about CABHI and our programs to join at the virtual CABHI Summit on March 26th. You can register for free at https://cabhi.com/summit.

You can learn more about CANHI at https://cabhi.com.

AgeingFit 2024 takes place across 11th – 12th March.