The 14th Annual What's Next Boomer Business Summit was a huge success! In fact, this year we sold out. Most of the segments of the Longevity Marketplace attending the gathering and networked with one another by sharing the latest research about the size and trends of this rapidly expanding market.
It was inspiring to have Joe Mansueto, founder of Morningstar, Inc., share lessons of how to build and grow a successful business. He alluded to the need to focus on aspects of the business that can truly be scaled and shared how he developed a B2B and B2C strategy.
Jody Holtzman, Senior Vice President of Market Innovation at AARP, gave us a brilliant perspective on how the longevity market can be defined as a political economy. And, Jeff Zimman, Co-Founder of Posit Science shared the key elements of winning and what can be learned from quarterbacks like Tom Brady.
There were many "how to" breakout sessions this year, each with strong panels that gave us a perspective on what works - such as Kevin O'Brien, an Account Manager at Google, with his examples of YouTube clips (6 seconds) that use humor to drive engagement. The investor panel shared very specific trends about who is investing in what and at what level and how to pitch. Pitching companies this year were Heal, Inc, CCD Innovation Inc., and BlueStar HonorCare. As always, there was a ton of energy around Speed Dealing and people over the age of 50.
Dr. Charlotte Yeh, Chief Medial Officer for AARP Services, offered very interesting insights about the new frontiers in consumer engagement. She describes the phenomenon of "not aging in place, its thriving in motion." She described how in the just two days time, approximately 20,000 in the U.S. will turn 65 and how the number of individuals over the age of 85 is the fastest growing segment of the population followed by those over the age of 100. Taken together, this population represents $7.6 trillion in annual economic activity according to the Oxford Economics Report for AARP (2016). She invited the audience to think about "if vitality was the new norm." This would lead us to think about this phase of life as one of personal growth. She shared we are going from a focus on medical conditions to a focus on social conditions. From patient to person focused. From managing health care plans to co-designing a life plan. And finally from prescribing treatment to prescribing purpose.
Another speaker, Colin Milner, CEO of the International Council on Active Aging, shared new trends driving the longevity marketplace in health and wealth . Colin pointed to the new models that will need to be developed. He pointed to key sectors expected to benefit significantly with the New Models -- service robotics, health education and skills, wellness, personal and autonmous transport, cosmetics and fashion, tourism, smart homes for independent living, and banking and relevant financial products. One of our SCU graduates worked for a while in the corporate world, and now she has launched a very successful newsletter and coaching practice for health and nutrition. I am about to sign up for the coaching. We will have access to global experts who can help us on our wellness journey and use technology to chart our progress.
I was thrilled to have Jeff Bennett, CEO of higi, at the Summit as well. I use the higi station all the time at Rite Aide to monitor my blood pressure, weight and pulse. I am fortunate to have a great park across the street to walk before this check up. Higi is the wave of the future.
Thank you to our Summit Participants, Sponsors, Exhibitors, Marketing Partners and Speakers who made this year's Boomer Summit the best yet! Don't forget to save the date for the Silicon Valley Boomer Venture Summit on July 20th!
Mary and her team will be bringing you news, trends, research and opinions about the longevity market.