Surfing the Opportunity of the Longevity Economy: Changing the Discussion About Longevity

Transcription

1 Surfing the Opportunity of the Longevity Economy: Changing the Discussion About Longevity April 28, 2017 Jody Holtzman Senior Vice President, Market Innovation, AARP Envision a National Economy United States United Kingdom China Mexico Barbados Wherever 2 1

2 Now, Envision a Healthy National Economy New business formation 3 Now, Envision a Healthy National Economy Job creation 4 2

3 Now, Envision a Healthy National Economy Productivity growth 5 Now, Envision a Healthy National Economy Tax generation 6 3

4 Now, Envision a Healthy National Economy New ideas 7 Now, Envision a Healthy National Economy Disruption 8 4

5 Now, Envision a Healthy National Economy Innovation 9 Now, Envision a Healthy National Economy New business models 10 5

6 Now, Envision a Healthy National Economy Investment 11 Now, Envision a Healthy National Economy New markets 12 6

7 Now, Envision a Healthy National Economy New industries 13 Now, Envision a Healthy National Economy New economic value 14 7

8 Now, Envision a Healthy National Economy Demographic growth 15 Now, Envision a Healthy National Economy Value chains 16 8

9 Now, Envision a Healthy National Economy Supply chains 17 Now, Envision a Healthy National Economy Multiplier effects 18 9

10 Now, Envision a Healthy National Economy GDP growth 19 Now, Envision a Healthy National Economy Serving the needs, desires, and preferences of over 110 million people

11 That is the Longevity Economy! 21 And, it is BIG!! US Longevity Economy GDP = $7.6 trillion Third largest in the WORLD! 22 11

12 And, it is BIG!! 35% of the US population drives over 42% of total US GDP And, it is BIG!! Over $5.5 trillion in consumer spending 24 12

13 And, it is BIG!! 35% of the population accounts for 53% of total US consumer spending Over 45% in Health care Durable & non-durable goods Utilities Motor vehicles and parts Financial services Household goods Leisure & Hospitality 25 And, it busts myths!! Twice as many startups created than by people in their 20s! 26 13

14 And, it busts myths!! 47 yrs old - Avg inventor age of first patent application 55 yrs old Avg inventor age for highest value patents and benefits people and families of all ages and generations Generates almost 90 million jobs 28 14

15 and benefits people and families of all ages and generations $4.7 trillion in salary and wages 29 and benefits people and families of all ages and generations $1.8 trillion in Federal and State & Local taxes 30 15

16 So What about Minnesota?? 31 It s big!! MN Longevity Economy GDP = $160.3 billion 35% of the population drives 46% of MN State GDP 32 16

17 It s big!! 35% of the population But 54% of state consumer spending 33 It s big!! $108.6 Billion! 34 17

18 It s big!! Supports 53% of Minnesota s JOBS! 35 It s big!! 1.9 million jobs 36 18

19 It s big!! 519,000 jobs in Education & Healthcare 379,000 jobs in Trade, Transportation & Utilities 230,000 jobs in Leisure & Hospitality 210,000 jobs in Professional & Business Svc s 194,000 jobs in Financial Svc s & Insurance 112,000 jobs in Manufacturing 37 It s big!! 48% of labor income! 38 19

20 It s big!! $102.2 billion in salary & wages 39 It s big and busts myths!! 13% are self-employed Entrepreneurs! 40 20

21 It s big and busts myths!! Compared with just 8% of those It s big!! 48% of State & local taxes! 42 21

22 It s big!! $15.7 billion 43 So Why is this important?? 44 22

23 First Because it changes the narrative about longevity and aging 45 And second From an economic standpoint, not only can we afford this growing number of older people 46 23

24 Not only are they NOT a drain on the economy 47 But, rather they are a key driver of economic growth, innovation, and new value creation!! 48 24

25 There is one question you never want to get from your Investors Board of Directors Limited Partners 49 The question is Why did you leave money on the table by ignoring the only humongous growth market that exists? 50 25

26 Caregiving = $300+ billion Daily Essential Activities Health & Safety Awareness Care Coordination Transition Support Social Well-Being Caregiver Quality of Life 52 26

27 Call for Action Nearly 10,000 Americans turn 65 every day. Six Areas of Opportunity: Daily Essential Activities: $207.6B Health and Safety Awareness: $20.3B Care Coordination: $8.4B Transition Support: $21.3B Social Well-being: $4.7B Caregiver Quality of Life: $17.2B 27

28 Daily Essential Activities Caregiver Out-of-Pocket Spending $36.5B Total Caregiver Support Market $207.6B 55 Health and Safety Awareness Caregiver Out-of-Pocket Spending $4.3B Total Caregiver Support Market $20.3B 56 28

29 Care Coordination Caregiver Out-of-Pocket Spending $737M Total Caregiver Support Market $8.4B 57 Transition Support Caregiver Out-of-Pocket Spending $4.3B Total Caregiver Support Market $21.3B 58 29

30 Social Well-being Caregiver Out-of-Pocket Spending $552M Total Caregiver Support Market $4.7B 59 Caregiver Quality of Life Caregiver Out-of-Pocket Spending $13.7B Total Caregiver Support Market $17.2B 60 30

31 A Cast Study - Innovation@50+ LivePitch Innovation@50+ LivePitch Results Over 1,000 Applicants 31

32 LivePitch Results 70 Finalists LivePitch Results Over $175 million raised by 27 of first 50 finalists 32

33 LivePitch Results 40 Deals LivePitch Results $4.4 million average raise 33

34 LivePitch Results 65 Venture Funds 65 Post-LivePitch Venture Investors 34

35 This doesn t include Andreessen Horowitz invested in Honor Khosla Ventures invested in Neurotrack Draper Fisher Jurvetson invested in Posit Science Media Incubators/Accelerators Events Investors Innovation@50+ Ecosystem Market Access Design Payers, Providers & Pharma Research Academia Industry Alliances 35

36 Increasingly, the Longevity Economy Is being viewed as too big to ignore! 71 Longevity Economy Goes Mainstream 36

37 It is Only in Washington, DC that addressing the needs of over 110 million people is called an unaffordable cost and financial burden 73 But Opportunity Calls!! In the private sector and for entrepreneurs, addressing the needs of over 110 million people is called an opportunity 74 37

38 Let s have the Opportunity Conversation!! 38