Invention Lab: An Incubator for Agetech
Our Partners
Our Unique Collaboration
- VillageCore organizes and runs the program, ensuring smooth operations while guiding the validation process to assess the potential of new concepts.
- Non-profits focusing on Seniors and Caregivers bring members to participate in focus groups and testing.
- Investors serve as advisors, offering expert mentorship and guidance.
- AARP AgeTech funnels innovative startups into the program, ensuring a steady stream of promising companies.
Program Highlights
- Innovative Collaboration: Bringing together a wealth of knowledge and resources.
- Incubator and Testbed: A dynamic environment where startups can work alongside prospective customers, peers and mentors, fostering innovation and collaboration.
- Focus on Aging in Place: Dedicated to developing products and services that help seniors remain in their homes, reducing the need for long-term care facilities.
Why Invention Lab
- Aging in Place as a Necessity: Aging in place is more than a preference—it’s essential for the majority of seniors around the world. The challenge is creating scalable solutions that support independence and enhance the quality of life.
- Turning Ideas into Products: Innovators Lab helps startups turn their ideas into viable products by providing a robust platform for testing, refining, and launching innovations.
Program Structure
A brief look at our program structure.
Phase 1: Orientation and Onboarding
- Introduction to
Innovators Lab, its mission, and partners.
- Detailed overview of the incubator and testbed program.
- Introduction to the aging in place market and its challenges.
- Mentor assignments.
Phase 2: Idea Refinement and Pilot Design
- Workshop 1: Define the project goals and establish the success criteria.
- Workshop 2: Outline the project scope, timeline, and target customer base.
Phase 3: Pilot Execution and Iteration
- Workshop 3: Recruitment and engagement of testers.
- Workshop 4: Data collection and analysis.
Phase 4: Scaling and Preparing for Investment
- Workshop 5: Iteration and product development.
- Workshop 6: Pitching to Investors.
What We Offer
Workshops and Mentorship: A series of hands-on workshops covering design thinking, pilot project development, data analysis, and investor pitching. Mentors provide guidance at every step of the journey.
Pilot Testing: Startups will have the opportunity to conduct pilot tests with real users, gathering valuable feedback and refining their products.
Vendor Introductions: Vetted Attorneys, CPAs, Designers, and Developers that are willing to provide discounts to the startups are extensions of the incubator.
Partner Introductions: Where possible we will provide introductions to partner organizations that can build a strong echo system of aging in place solutions.
Advisor and Board Member Introductions: These may include experienced executives, senior industry leaders, venture capital advisors, and experts in technology and aging innovation.
Investment Support: Once a minimum viable product (MVP) is developed, we assist startups with investor pitches and securing funding for further development.
Invention Lab
Invention Lab offers the first step toward turning your idea into reality. The initial phase includes a $500 monthly fee and a small equity stake in your company, reflecting your commitment to this program and your long-term success.
