Edition #11: Ageism, care infrastructure, entrepreneurship, advertising and jobs
Thanks for reading and subscribing to the Silver Angels Newsletter. I cover news focused on the Silver Economy spanning research, media, entrepreneurship and impact. This newsletter has three sections.
And an EXTRA! JOBS! section highlighting a few jobs in this emerging sector.
Now, let’s dive in!
In this section, we will present articles from mainstream newspapers and magazines that touch upon the Silver Economy in India, and our short take.
Senior Care Ageing Growth Engine (SAGE) start-up fund in India
Our Take: The Ministry of Social Justice and Empowerment, through an empowered expert committee, organized a consultation with prominent investors and practitioners in the eldercare space, on the 12th of April, 2021. The fund, estimated to be around INR 100 Crores initially, is the first-of-its kind in India, and has the potential to catalyze entrepreneurial activity and bring much needed capital and support. This initiative also opens up two potential opportunities – (a) more private capital for businesses with growth plans, and, (b) a supportive and enabling ecosystem that includes mentoring, incubation and business support for early-stage businesses.
It would also be interesting to see efforts towards creating and supporting older entrepreneuers, and if one were to go by inspirational stories from India, here is one about Captain C P Krishnan Nair starting Leela hotels in his 60s, and turning it into a world class luxury chain.
Making the world more elderly friendly by Harish Bijoor in the New Indian Express
Our Take: Harish Bijoor is a brand specialist and makes a case for India to be a leader in eldercare management, and goes on to propose an elderly audit on businesses, infrastructure and societal attitude (ageism) to address the deficiencies in the way we engage with the elderly. Branding specialists and advertisers can massively shift the narrative (and language) around older adults, and in particular elders, given the influence their work has on the general population. For example, this article by a communications consultant identifies advertising campaigns that have seniors as actors in them.
Senior Living is a Young Market by Rishi Ranjan Kala in Financial Express
Our Take: This article provides a glimpse into the opportunities in the senior living market with inputs from key players like Columbia Pacific, Antara, Ashiana and Anarock Consultants. For those that are not aware, the Association for Senior Living in India (ASLI) is an independent entity founded in 2011, to create a model for self-regulation and work with government to ensure minimum standards for operational excellence. With active regulation, guidelines and universal care standards, this sector can bring more high-quality players to meet the rising demand for senior, assisted and care facilities.
Care economy: Why India must recognise and invest in care work by Mitali Nikore in the Indian Express
Our Take: While the care economy is an all-encompassing definition of all types of care (childcare, eldercare, specialized care, etc.), the article refers to provisions in the American Jobs Plan towards investments (and not as expenditure) in developing a care economy infrastructure. The formalization of the care economy through systematic investments could not just result in more jobs but also more gender-inclusive growth given much of the care work (informal, semi-formal and formal) is performed by women.
Healthy ageing was never so attractive by Vibha Varshney in Down to Earth magazine
Our Take: The article touches upon the vaccination drive underway and the challenges faced by elderly, and why a door-to-door vaccination drive may be more effective.
In this section we will cover the people that influence or drive the Silver Economy, and their achievements.
Ambi Parameswaran, a senior marketing and advertising executive, is now a brand coach, author and thought leader. He was also one of the earliest to write about the silver generation, and the opportunities for brands and businesses to tap into this population segment.
Check out his conversation (audio-only) with Rutu Mody-Kamdar on HT Smartcast: https://tinyurl.com/39rxfps3.
Also check out this article about brands using seniors as leads in their advertisements.
In the impact series, we will profile entrepreneurs, organizations, innovative solutions, and their impact.
Seniors Have Talent – Season 4 by Seniors Today, a digital community for seniors.
You can register here if you are over 60 years of age: https://seniorstoday.in/seniors-have-talent
The first episode (Round 1, Group A) of ‘Seniors Today Seniors Have Talent Season 4’ will commence on May 9, 2021, and will be aired on Zoom and Facebook Live.
⚡ EXTRA! JOBS!
Some open positions in this sector.
- Sales Manager at Elder Aid Wellness, LinkedIn.
- Interior Designer at Aaji Care. For the new Elder Care Centre in Andheri, Mumbai. Reach out to Prasad Bhide on LinkedIn.
- Sales and Marketing Specialist at Elders First, LinkedIn.
Thoughts, feedback, questions?
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Disclaimer: Silver Angels is an independent platform tracking the Silver Economy in India. No advertising or sponsorship involved.