Healthy Ageing Challenge Dr Cynthia Bullock Ageing Society Health and Nutrition – Innovate UK MediWales Connect 2nd July 2019

Objectives Overview IUK and UKRI – 5mins Overview of Healthy Ageing challenge – 15mins Discussion points – 20mins Feedback – 5mins

UK Research & Innovation

The UK’s innovation agency we are at the heart of delivering government’s Industrial Strategy and target of UK R&D expenditure reaching 2.4% of GDP we act as a transformative agent for change in the UK economy by accelerating productivity and driving disruptive innovation we support innovation, from spin-outs and start-ups to companies with the ambition to scale and grow in the UK and through global markets we help companies of all sizes in all sectors access the research, partners, investors and markets they need to innovate and grow

Creating an economy that boosts productivity and earning power throughout the UK  

Becoming a world leader in shaping the future of mobility Industrial Strategy Challenge Fund: Grand Challenges AI and data economy Ageing society Clean growth Future of mobility Putting the UK at the forefront of the artificial intelligence and data revolution Harnessing the power of innovation to help meet the needs of an ageing society Maximising the advantages for UK industry from the global shift to clean growth Becoming a world leader in shaping the future of mobility

Homes, Families & Communities Work, Learning & Purpose Ageing Society Grand Challenge People will enjoy five more years of healthy, independent life by 2035, whilst narrowing the gap between the experience of the richest and poorest (measured through improvements in disability-free life expectancy) Health & Care Homes, Families & Communities Work, Learning & Purpose Finance & Economy

How the ISCF challenges fit with the Industrial Strategy Grand Challenges Clean growth Energy revolution Transforming construction Transforming food production Ageing Society Medicines manufacturing Data to early diagnosis and precision medicine Healthy ageing Future of mobility Faraday battery challenge Extreme robotics National space test facility Artificial intelligence and data economy Audience of the future / Next generation services (pioneer) / Quantum technology (pioneer)

How do you think about our ageing society?

Nature vs Nurture

Benefits of working for as long as possible? Men and those with more education/higher status occupations are more likely to work in later life. Retirement ages in the UK are expected to continue increasing. Financial necessity a particular issue for women, because of their higher life expectancy. Non-financial benefits to working longer, such as increased resilience in later life. Ageing Society Grand Challenge aims to enable more people to remain in employment for longer.

Healthy Ageing Opportunity The ambition is to impact on the lives of millions of people within a decade. This will have both social and economic impacts, and is a global opportunity for business: Across the EU, there were 199 million people aged 50+ who consumed €3.7 trillion of goods and services in 2015. In 2015, the Silver Economy sustained over €4.2 trillion in GDP and over 78 million jobs. If ranked among sovereign nations, the Silver Economy would be the third largest economy in the world, behind only the USA and China.

Sizeable economic opportunities from emerging longevity markets By 2020 the size of the global connected health market will be close to €59bn European tourists aged 65+ spend on average €66bn per year. Globally, the 50+ population spend €109bn per year The global market for ICT solutions for healthcare monitoring in private homes is expected to grow from nearly €10.7bn in 2016 to roughly €31.5bn by 2021 The global smart homes market is predicted to be worth €55.8bn by 2020 Connected Health Silver Tourism   Integrated care services Age-friendly built environment

The Healthy Ageing Vision To enable businesses, including social enterprises, to develop and deliver products, services and business models that will be adopted at scale which support people as they age. This will allow people to remain active, productive, independent and socially connected across generations for as long as possible.

The healthy ageing landscape Healthy ageing encompasses, but is not limited to, seven themes which offer the greatest opportunities to tackle market failures and stimulate innovation * “ISCF Healthy Ageing Challenge Framework”, Centre for Ageing Better, 2019

The healthy ageing markets Complex landscape with no single sector or category Huge interest in participation from a wide range of organisations in private, social/voluntary and public sectors Significant investments in technology – need to see disruptive propositions coming to market at scale Market interest in a wider range of propositions than could be supported by 3 large ‘demonstrators’ Significant learning in previous programmes supporting a focus on scale-up and sustainability Insight from recent market engagements and independent reviews

Emerging Approach The challenge is looking to develop and deliver a portfolio of initiatives where the main focus of investments will be on late-stage innovation: Large-scale projects Investment partnerships Early stage R&D Research – Social, Behavioural & design We anticipate varied routes to impact on the Challenge themes through the investments in the portfolio. * “ISCF Healthy Ageing Challenge Framework”, Centre for Ageing Better, 2019

© Image courtesy of NB: Studio Ltd

Discussion Points Topic 1 – What are the key barriers to achieving the challenge vision Topic 2 – What are the key social impact success measures/metrics we should be monitoring