The AAL Programme and Nesta Challenges announced the official launch of the third edition of the Smart Ageing Prize today.
The 2020 Prize is focused on Senior Enterprise and is aimed at increasing the number of older adults participating in entrepreneurial ventures.
Individuals, groups and organisations located in the EU 28 countries, plus Canada, Taiwan and the countries Associated to Horizon 2020, are eligible to apply for a share of the €50,000 Prize pot. The Prize is divided into three awards with €35,000 for first place, €10,000 for the first runner up, and €5,000 for the second runner up.
Submitted solutions should support, empower and inspire older adults to engage in entrepreneurship - for example through the creation of intergenerational teams and skills-sharing, or digital solutions to help bring to life the entrepreneurial ideas and energy of the 60+ age group. Involvement in enterprise is not limited to those who want to set up their own business. Other fruitful routes into the sector can include mentoring/coaching for younger entrepreneurs, or going into business with an intergenerational team.
Solutions must be innovative. The prize is not looking to support a solution such as a website with no innovative digital component. The technology can be incrementally innovative, not necessarily disruptive, but it should be something that isn’t already available on the market.
The solution must also be supported by a strong and viable business model. This means having thought carefully about the customer segment and designing the product in conjunction with end users to ensure it meets their needs. At later stages of the competition, participants will also need to explain how they intend market their solution – products and services need to be desirable and attractive to the over-65 market.
Importantly, the solution should be capable of delivering a measurable improvement in the number of older adults participating in entrepreneurial ventures, and really championing the assets and skills of senior talent.
The deadline for entries is 26 February 2020 (17:00 CET).
Fifteen semi-finalists will be selected to attend a mentoring academy in Brussels and will be expected to bring a working demonstration to the event.
How To Apply
Applications must be submitted in English.
Applications are submitted using an online entry form. To apply, entrants must first register via Nesta's Challenge prize Centre website. Once an account has been created users can log in and complete their application.
The most innovative ideas will be helped to develop prototypes and business plans. Fifteen finalists will be invited to a social innovation mentoring academy and will receive expert coaching and support to develop their idea.
The 15 semi-finalists will submit a detailed business plan to the judges, after which the judging panel will select five top finalists to pitch their projects at the AAL Forum.
Useful documents & links
Addresses and contacts
For further information on how to obtain this grant locally, please contact the following:
3, Rue de Luxembourg
Tel: +32 2 219 92 25
Fax: +32 2 204 02 19
Email: [email protected]
58 Victoria Embankment
Tel: 020 7438 2500
Fax: 020 7438 2501
Email: [email protected]