Entrepreneurs' views of the gerontech market. (November 2021)

• Record Type: Journal Article
• Authors: Naor, Rina; Nabarro, Ron; Isaacson, Michal
• Is Part Of: Technology in society. Volume 67(2021)
• Publication Date: 2021-11
• Subjects: Innovation -- Entrepreneurship -- Aging -- Gerontechnology; Technology -- Social aspects -- Periodicals; 303.483
• DOI: 10.1016/j.techsoc.2021.101710
• Languages: English
• ISSNs: 0160-791X

Abstract

Abstract: As the population of older adults in the world grows older adults hold potential as customers for new technologies and innovations. Despite the great potential that the Gerontechnology market has, many entrepreneurs are wary of focusing their efforts towards this segment. This study examines entrepreneurs' perception of older adults as a target population for their endeavor. Using a research tool that was distributed among 100 entrepreneurs in Israel, the study examines how knowledge about aging and the aging market, ageism and personal experience influence entrepreneur's willingness to consider older adults as a target audience for their endeavor. Although the participants held ageist perceptions towards older adults, these perceptions did not influence their willingness to consider older adults as a target audience for their endeavor. Knowledge about aging and about the aging market were the strongest predictors of entrepreneurs' willingness to consider older adults as a target audience for their endeavor. Highlights: There is potential for both financial and societal benefit in developing technology for older adults. Knowledge about aging the aging market predict entrepreneurs' willingness to consider older adults as a target audience for their endeavor. Investing effort in programs that disseminate knowledge about aging the aging market can grow entrepreneurs' interest in this segment. Although entrepreneurs hold ageist views and perceptions, these did not interfere with their willingness to develop technology for older adults.