In March 2016 we hosted the 13th Annual What’s Next Boomer Business Summit in Washington DC for more than 300 attendees. We have come to expect the highest caliber industry experts as our keynotes, on our panels, and as our judges. Believe me, this year was no exception.
The What’s Next Summit was a treasure trove of content, insights, strategy and connection about marketing and business development for the longevity marketplace.
The keynotes were powerful and insightful beginning with AARP CEO, JoAnne Jenkins, who inspired us with her plan to Disrupt Aging from her new popular book. John Zogby shared insights about the differences between boomers and their millennial offspring and the current state of the economy today. He shared that millennials will have three jobs by the time they are 30 and likely 11 jobs by the time they are 40. He talked about the rise of entrepreneurship and the independent sector. Over 40 percent of the population will be independent contractors by 2010. They will be doing jobs as ride services like Uber, Lyft, and SilverRide, or engaging in businesses like Airbnb, the short-term-stay broker; task brokers like TaskRabbit and Fiverr; on-demand delivery services like Postmates and Favor; and grocery-shopping services like Instacart.
One of the most successful sessions we ran was Speed Dealing. 20+ entrepreneurs lined up, face-to-face with distribution partners and corporate and angel investors. The entrepreneurs had two minutes to state their business and the biggest issue they were facing then the expert had two minutes to give insights and advice. Then the bell would ring and the entrepreneurs had to move to the next chair and meet their next two-minute mentor. It was noisy and intense and fascinating and those entrepreneurs made valuable connections in no time flat! We are now making this a permanent part of our program.
There was so much information and so many interesting topics at What’s Next 2016. We were able to offer twenty different sessions lead by the best industry experts. It’s months later and we are still discussing and disseminating the information, fascinated by the wealth of knowledge in this market, and the depth of opportunity. We will share more of our observations and insights in our next newsletter.
To start, here is a summary of leading housing analyst and SVP of Senior Living Research and Development at Ziegler, Lisa McCracken’s presentation on Senior Housing. Lisa shared the following data about the senior housing supply.
Senior Housing Supply
- Life Plan Communities (CCRSs) 1,955 communities…….. 676,000 units
- Independent Living Communities…………………………………….. 1,500, 179,000 units
- Affordable Housing………………………………………………………………12,000 Properties
- Freestanding AL…………………………………………………………………….24,000 communities, 885,000 units
- Memory Care……………………………………………………………………….. 1,060 communities, 51,000 units
- Nursing Homes……………………………………………………………………..15,000 properties, 1, 400,100 units
The average age of residents going into senior housing is approximately 83 years old and the average age of assisted living residents is the mid 80s. The oldest boomer is now 71. As we are becoming increasingly aware, more and more boomers are choosing to live at home and age in place. One of the tools that will facilitate this is the technology available to seniors. Lisa mentioned several examples of technologies to help move this along. She also discussed how the boomer consumer of tomorrow will be different than the senior of the past and how providers are preparing for that eventuality.
Another thing we are noticing is the shift in perception of senior housing in other subtle ways, for instance, 53 of the 150 largest nonprofits have changed their name in the past 11 years. They are removing words such as retirement, homes, aging, and care and incorporating words such as grace and spirit.
The Silicon Valley Boomer Venture Summit is on the Horizon!
The big news for MFA is our upcoming 13th Annual Silicon Valley Boomer Venture Summit. We are hard at work putting together a banner group of speakers, judges, and industry experts; developing relevant panel topics, sessions, and workshops; and screening new business plans.
Our focus this year is Strategic Investment in the Longevity Market. We will be examining the roles of beauty, health, fitness, safety, security, housing, caregiving, and connection in our lives as we age, and their market opportunities on a global level.
When you register for the summit be sure to reserve a spot to attend the Angel Breakfast, where you will have an opportunity to network with angel investors and seed fund representatives. Following breakfast, the morning sessions will include the popular “Pitch for Distribution.” Three companies will give brief pitches to a panel of investors with the hope of interesting one or more of the panelists enough to secure a meeting. We are also planning to offer workshops and sessions that further our knowledge of the market needs and opportunities, the distribution channels, and the ways to scale a business.
Another box to check when you register is your host for lunch. We are gathering an assembly of angel investors, VCs, CEOs, bloggers, industry analysts, and authors for our annual Lunch with the Experts. Here you will get a chance to connect and network over a delicious lunch on the campus lawn.
We are still accepting business plans for the $10,000 Business Plan Competition. This year the line-up of judges includes Lynne Chou, Kleiner Perkins Caufield & Byers; Jody Holtzman, AARP; Scott Smith, The Viant Group; Gavin Teo, Comcast Ventures; and Aaron Flink, McKesson Ventures. If you are interested in submitting your business plan, you can find the rules and criteria for the competition on our web page. Entry deadline is May 29. Many of our past contestants have gone on to be very successful entrepreneurs. Take a look at last year’s winner, Vynca.
We look forward to seeing you in Santa Clara in June to help us discover who is investing in the longevity economy and what trends will dominate the market in 2017.
Be sure to register at BoomerVentureSummit.com before June 10 to take advantage of the early bird discount, use the discount SV16FOM.
0 Comments