27th April 2015
The Long Term Care Revolution: Tech Sector to Benefit from Digital Health Boom
A growing revolution in long term health care is opening up new opportunities for social entrepreneurs, innovative tech startups and early stage businesses to take advantage of an emerging market, currently worth over £20 billion to the UK economy and estimated to rise to £30.5 billion by 2020*.
London 12th and 13th May and Edinburgh 1st and 2nd June: with London and Edinburgh leading the UK in terms of successful informatics startups, Scotland’s Digital Health and Care Institute (DHI) is co-producing events in both cities to bring together like-minded private and public sector stakeholders, with an assortment of daring and ambitious entrepreneurs, in a spirit of open innovation.
Participants will find out how to take full advantage of Innovate UK’s £4 million SBRI Long Term Care Revolution National Challenge, which aims to give UK businesses a head start in the drive to transform long term care from an “end of life” institutional model, widely regarded as unfit for purpose, to a dynamic market that helps facilitate the construction of flexible, people centric platforms that empower us to live life as we choose.
Supporting partners RBS, the European Commission and The Glasgow School of Art (GSA) will join leading experts and thought leaders representing primary stakeholders, including NHS, government, charities, cross sector businesses, academics, investors, pioneering institutions and policymakers, in a joint social venture which aims to inspire creative ideas for the next generation of cutting edge technologies, promoting healthy and active aging and offering people greater choice and flexibility of care when they reach later life.
Organisers believe tech startups and SMEs have the skills and creativity necessary to mobilise change. They are now looking for ambitious entrepreneurs to lead a revolution in long term health care that will affect everyone, whilst simultaneously boosting their own business potential.
Applicants are invited to express interest in attending here
DHI CEO Justene Ewing said: “Opportunities like this come along very rarely. The UK has a history of innovation and there is a significant and unique opportunity for the country’s startups and tech community to get involved and shape a burgeoning industry that has huge market potential.
“We are positively championing the role of tech companies and SMEs in the Revolution because fresh, risky ideas are the only way we’ll change the status quo. Startups and entrepreneurs – bring us your brightest, most challenging, but affordable ideas. We’re on the verge of a massive change and you need to get on board now.”
Nick Howe, Regional Enterprise Manager, RBS said: “At RBS, we believe it is important to encourage innovation by bringing fresh ideas and perspectives to such an important challenge. We are excited to be hosting these Long Term Care Revolution Live events, and look forward to engaging with a rich mix of stakeholders, entrepreneurs, public sector representatives and healthcare professionals working together to find solutions to issues that will eventually affect us all.”
Long Term Care Revolution Live participants will also have the chance to meet with buyers from mainland Europe and hear about funding and other business development support from the European Commission’s DG Connect, which supports jobs and economic growth through the creation of digital technologies.
Peter Wintlev-Jensen Deputy Head of the DG Connect Unit responsible for EU Active and Healthy Ageing innovation initiatives, said: “Two primary steps are required in order to promote healthy and active aging across Europe: We have to think about reinventing health and social care systems through innovation. Breaking down barriers and encouraging collaboration among all stakeholders. From researchers to designers; big industry to smart startups; hospitals to care professionals, not forgetting citizens and carers. Second: we need to turn patients into empowered consumers, as they can be the drivers of the change we need so badly. This is a new way of thinking which the Long Term Care Revolution promises to take to heart and I am very much looking forward to taking part in the forthcoming meetings.”