Objective Ageing is one of the major societal challenges, which has already become a significant economic factor. One of three Europeans will be over 65 by 2060. In Finland the number of over 75 years olds will more than double until 2040 from current 420.000 to 950.000. Total government spending on pensions, healthcare and long-term care will increase by almost 20% between 2010 and 2060. Being under heavy cost pressure, municipalities in many European countries started to explore possibilities of implementing assisted living technologies to provide the elderly care and rehabilitation at home. Similar trend occurs in US. The global home rehabilitation products and services market is expected to reach US$ 176 billion by the end of 2023.To stay independent and active, seniors need both sufficient balance and physical strength to manage in their daily lives. In order to maintain these abilities, regular and versatile physical activity is required. Physilect will help extending the stay-at-home period for seniors by activating them to regular exercises. Our solution enables seniors to maintain their ability to live at home as active members of the society. The proposal introduces a novel business model innovation built on following opportunities: individual empowerment, the pervasive use of new technologies, and new ways of caring.We are targeting at commercialization of our product for global markets by exploring the emerging market opportunity created by the aging of population and a growing need for novel rehabilitation solutions. Our main objective for the near future is to make sure our business model is scalable and valid outside the domestic market. Actions described in this proposal provide grounds for a two-years development project, which will be mainly devoted to the international scale up. The main goal of the proposed feasibility study is to define the proper application focus and modify the business model in respect to specific needs of the selected market segment Fields of science medical and health sciencesclinical medicinephysiotherapysocial scienceseconomics and businessbusiness and managementbusiness models Programme(s) H2020-EU.3.6. - SOCIETAL CHALLENGES - Europe In A Changing World - Inclusive, Innovative And Reflective Societies Main Programme H2020-EU.2.3.1. - Mainstreaming SME support, especially through a dedicated instrument Topic(s) SMEInst-12-2016-2017 - New business models for inclusive, innovative and reflective societies Call for proposal H2020-SMEInst-2016-2017 See other projects for this call Sub call H2020-SMEINST-1-2016-2017 Funding Scheme SME-1 - SME instrument phase 1 Coordinator PHYSILECT OY Net EU contribution € 50 000,00 Address Vuorikatu 16 a 10 00100 Helsinki Finland See on map Region Manner-Suomi Helsinki-Uusimaa Helsinki-Uusimaa Activity type Private for-profit entities (excluding Higher or Secondary Education Establishments) Links Contact the organisation Opens in new window Participation in EU R&I programmes Opens in new window HORIZON collaboration network Opens in new window Other funding € 21 429,00
