Three South Australian businesses awarded funding through the SA Innovation Challenge gathered at the Lot Fourteen Startup Hub this week to share and celebrate their project outcomes.
Local startups Goldilocks, Neo Care and Lateral Vision received a total of almost $1 million in 2021 to develop and test new technologies under the theme of ‘Augmenting Ability’ – solutions to help older people to live independently, productively and with dignity in their own homes.
South Australia is in a unique position to embrace innovation to meet the challenges posed by an ageing demographic shift: the state has the highest proportion of older people on mainland Australia with more than 630,000 people aged over 50, 37% of the total population.
The majority of over 65s (95%) live independently at home.
The purpose of the SA Innovation Challenge was to bring researchers, businesses, and customers (end users) together to co-create and test innovative solutions that address problems facing an aging population.
The Challenge encouraged participants to harness frontier technologies across the research and innovation value chain, develop new products or services, and create early market advantage for innovative South Australian businesses.