Grants available for organisations with novel solutions to the challenges facing seniors
19 October 2023: The Selwyn Foundation has launched its inaugural Respectful Ageing Innovation Challenge, which will see $550,000 given to develop solutions to the complex problems seniors face.
The Selwyn Foundation embarked on a transformation process two years ago, selling six of its seven retirement villages, with a goal to invest $100 million over the next decade to drive social impact at scale. The Challenge is the first step on that journey, aiming to fund innovative products and services that significantly improve outcomes for older people.
“Our research into the areas of greatest need for older New Zealanders shows health, financial hardship, housing insecurity, social isolation and loneliness, and access (including transport as well as digital access) are the five biggest challenges, leading to further negative impacts on both physical and mental health. Addressing these will require new solutions. We know that New Zealanders have the ability to create amazing solutions through collaboration and innovation, and we want to foster an innovation eco-system that promotes Respectful Ageing,” said The Selwyn Foundation Chief Executive Officer, Denise Cosgrove.
There will be 1 million New Zealanders over the age of 65 by 2028, coinciding with a shrinking tax base to support older people with vulnerabilities. While older people are often seen as being wealthier and in a better position than younger people, the Foundation’s research across Auckland and Northland identified an estimated 37,500 significantly vulnerable older people in those areas alone. That number is only expected to grow as our ageing population increases.