Interview with Abby Levy - Primetime Partners. A valuable summary of the market for supporting older citizens.
I'll start with an earlier quote from Ms. Levy, that I posted here earlier.
When asked last year about how their fund would advise new companies entering longevity focused markets, Ms. Levy responded"
"I think I can guess what Alan would say, so I’m going to jump in here… I think what we would say – and this isn’t just because it’s consistent with our brand and our positioning – Go find an experienced professional who has been in the industry – for 20 – 30 years – of the industry you’re starting your startup in. Go find a cofounder who has that experience, that network, the understanding – and frankly the relevancy to the end user that looks like them. And go co-design a business with someone who is of the target group you’re looking to serve. I think that would be one piece of advice we feel would be VERY passionate about."
In this new article Ms. Levy discusses Primetime Ventures and their approach to business development for this market:
"That was one part of the impetus for starting Primetime—to develop new businesses geared to this tremendously large and important aging population. The second was really the McKinsey girl in me, looking at the sheer numbers: 25% of our population is age 65. Plus, it's the fastest growing segment globally, controlling about two thirds the net worth of our country, and three quarters of the healthcare spend. It's also an important segment that is absolutely underserved by the entrepreneurial community."
It is reassuring to see the talent, the markets, and the opportunities all rise to this pressing need. I believe our CAE entrepreneurs have a front row seat for this exciting development.
Link to the full interview with Abby Miller Levy
Interview by Nancy Griffin at SeniorTrade.