The number of people in the UK aged over 75 will rise from 1 in 12 today to 1 in 7 by 2040. A third of children born today can expect to live to 100.
This rising life expectancy poses a significant challenge for health services. It is also an opportunity for businesses to develop new products and services that will help us all to lead healthy and active lives in older age.
The UK Government's Industrial Strategy Challenge Fund Healthy Ageing Challenge is a £98 million investment to support businesses and researchers to develop these new products and services.
It is part of the Ageing Society Grand Challenge that aims to ensure people enjoy 5 extra years of healthy and independent life by 2035.
Innovate UK, part of UK Research and Innovation, has up to £1.5 million from the fund to invest in stage 1 of the Healthy Ageing Trailblazers competition.
Businesses and public sector organisations are being encouraged to show how products, services and business models that support people as they age could be scaled up.
Up to £36 million could be available in a second phase to support the development of the best ideas in a series of large projects.
